The Fed's recent 50 bps rate cut signals a bullish outlook for financial markets, particularly benefiting Bitcoin, which has surged amid easing global pressure.
Bitcoin's technical setup indicates a potential breakout from a six-month consolidation, suggesting a challenge of the all-time high of $73K may be imminent.
Despite a range-bound phase and significant selling pressures, Bitcoin's price maintained above $50K, demonstrating resilience in the face of market challenges.
As Bitcoin closely follows Gold's trend in response to recession fears and inflation signs, it may soon follow Gold's path to new highs.
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