Bitcoin whale with accumulation of 4,451 BTC boosts holdings
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Bitcoin began to recover late Wednesday, boosted by policy decisions made at the most recent U.S. Federal Reserve meeting. The U.S. central bank kept interest rates unchanged and hinted at further rate cuts this year.Bitcoin recovered above $68,000 on Thursday, but bulls were unable to extend the rally, with BTC reaching lows of $64,525.
At the time of writing, BTC was extending its declines, down 3.48% in the last 24 hours to $64,796 after hitting intraday lows of $64,529.after testing key support levels. Bitcoin might consolidate and then form a base for a potential upward move. In this scenario, key resistance levels will be closely monitored, with a breakout likely to trigger further buying interest and propel Bitcoin toward higher price targets.
A rebound from the current level might face selling pressure at $65,270. In the case of further selling, BTC may fall to the 50-day SMA , where bulls are expected to buy aggressively.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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