Bitcoin Defies Gravity: Surging Past Critical Support as Markets Roar Back to Life
Bitcoin just pulled off a high-wire act—bouncing hard off a make-or-break price floor while traders held their breath. Here's why this rebound could be the spark for the next leg up.
The breakout playbook: BTC's vault above support wasn't subtle. The move came with conviction, slicing through resistance like a hot knife through institutional FUD.
Liquidity hunters circling: Algos are feasting on the volatility buffet—stop hunts got wrecked, leverage got flushed, and guess what? The casino's open for business again.
The cynical take: Wall Street's still trying to 'discover' Bitcoin's use case between martini lunches. Meanwhile, the network just processed another billion dollars without asking for permission.
This isn't just technical—it's psychological. When Bitcoin shakes off bad news and climbs anyway? That's when you know the bulls aren't messing around.
$116,294 market experienced a volatile period in August, with prices dipping to $114,723 in the last 24 hours. Despite this, it has rebounded to maintain above the crucial support level of $115,500. Investors are watching closely, but have not yet initiated panic sales in altcoins, with Ethereum
$3,721 holding above $3,700. The upcoming week is expected to bring significant activity, and former President TRUMP remains hopeful about the financial landscape.
Tariffs and Interest Rate Decisions
Chair Powell and his team largely oppose interest rate cuts due to the inflationary impact of tariffs. In a rare occurrence, Trump visited the Federal Reserve building, indicating that he believes interest rates need to be lowered for his criticisms of Powell to cease. Trump, in recent statements, has painted a positive picture, claiming that most deals will be concluded soon.
During his update, Trump showcased optimism, asserting the economic data is impressive. He mentioned plans to discuss and potentially approve a trade agreement with the UK during a meeting with the British Prime Minister. The probability of an EU agreement, however, stands at fifty percent. crypto Traders Are Rushing to This App – Here’s Why You Should Too
Trump’s comments suggested that Powell might be inclined to lower interest rates. He noted that most tariff agreements are expected to conclude by August 1. Agreements with China have clear boundaries, and some will be finalized through correspondence. Customs duty letters are expected by Friday, and tax refund checks for low-income Americans are being considered.
Despite the perception that a strong dollar is unfavorable for exports, Trump still advocates for maintaining a strong dollar. His dual stance might seem contradictory, yet it is characteristic of his statements.
Trump also hinted that the US is edging closer to a trade deal with China.
The decline in Bitcoin has benefited the ETHBTC pair, aiming for the 0.033BTC region again. Should this level be surpassed, an altcoin rally could occur over the weekend.
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