Bitcoin (BTC), the leading cryptocurrency, struggled to halt its previous bearish trend, hovering around the $67,824 mark and hitting an intra-day low of $66,600. The decline intensified following the release of robust US labor market and Services PMI data, which reduced investor expectations of a September Fed rate cut and decreased demand for riskier assets.,Looking ahead, Bitcoin investors will focus on upcoming comments from Fed officials, particularly Fed’s Waller, who is scheduled to speak on Friday.,Hawkish remarks could weigh on Bitcoin. Furthermore, upcoming US Durable Goods Orders and Michigan Consumer Sentiment Index reports will also influence market sentiment.,,
Recent regulatory changes in the US have sparked a bullish trend for Bitcoin. Key developments include Congress members urging the SEC to approve spot
Ethereum (ETH) ETFs and the passing of the FIT21 bill, which clarifies cryptocurrency regulations.,Additionally, major Bitcoin holders, known as “whales,” have accumulated 20,000 BTC, worth around $1.4 billion, in the past week.,These regulatory changes and positive developments have boosted demand for Bitcoin, with significant accumulation by whales and substantial inflows into spot Bitcoin ETFs.,Strengthening US Dollar and Positive Economic Data Impact on Bitcoin Prices
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