- Will the Fed’s expected rate cuts on September 18 lead to another BTC rally?
- Major financial players are promoting institutional investments in Bitcoin.
Technical analysis of Bitcoin [BTC] The chart on TradingView showed the asset has fallen out of the bull market again this year, signaling an entry point for investors.
This mirrors the 2023 pattern that led to a new all-time high in 2024. Previously, Bitcoin rebounded sharply when news of Bitcoin ETFs was submitted for approval in January.
With calls for a 1.5% rate cut, there is speculation as to whether this will trigger a similar rebound in the bull market channel.
Source: TradingView
Investors are closely watching whether the interest rate cut will provide the same boost as the ETF news last time.
Capula and Semler Scientific add more BTC
Capula, the fourth largest hedge fund in Europe, has done just that invested $500 Million in BTC Using BlackRock and Fidelity ETFs.
In addition, Semler Scientific recently invested $6 million in BTC and plans to raise $150 million to buy more. Since adopting a Bitcoin treasury strategy in late May 2024, Semler has purchased 929 bitcoins, for a total of $63 million.
These investments by major financial players suggest increasing acceptance of Bitcoin in the financial sector and could inspire further institutional investments that could lead to a rise in the BTC price.
Source: Bitcoin archive on X
Will BTC Secure 350DMA Support?
According to the Golden Ratio Multiplier, Bitcoin’s price has been hovering around its 350-day moving average. This long-term projection tool, coupled with the expected interest rate cuts, suggests that Bitcoin’s price is about to rise.
The 350DMA serves as support when the asset is trending upward. Considering this and the other factors, the recent crypto crash could be an excellent opportunity to buy before Bitcoin recovers.
Source: Bitcoin Magazine PRO
Bitcoin typically experiences a correction or consolidation period of several weeks after a halving before it starts to rise.
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Currently, the economy has reached its lowest point in this cycle, and many expect it to recover in the third quarter of 2024, after repeating the patterns of 2012, 2016 and 2020.
X user and market analyst Quinten noted Despite the current concerns, BTC is following its usual cycle behavior.
Source: Quinten about X