Bitcoin‘s price is currently at the level of $41,990, which is concerning for investors. While altcoins maintain their calm, investors are on the lookout for profit-taking opportunities. We have left behind a challenging week, and the statements of the Federal Reserve were quite significant.
With the opening of the Asian markets on December 13, the price of BTC dropped to $40,555. Although the price recovered afterward, it fell below $41,500 again with a sudden sale on December 14. Since then, the price of BTC has continued to fluctuate within a narrow range.
The Federal Reserve’s decision on interest rates and the anticipated 75-basis point cut for 2024 were received positively. However, statements from FED members that could damage optimism may dampen investor morale. FED members, who reduce risk appetite, caused some fluctuations in the markets.
Saturday passed calmly, and no significant surprise is expected for Sunday. However, in recent months, Mondays have triggered significant movements. For investors, it wouldn’t be surprising to see an increase in volatility in the next 24 hours.
Today, if there are no big surprises, we will see a pause in Bitcoin’s upward trend that has lasted for the last 8 weeks, and the weekly candle closure will occur within hours. At this point, closures above $40,750 could pave the way for a continuation of the rise after a brief consolidation process.