Bitcoin Falls Back After Attempt at $72K, but Fed, U.S. Data and Global Rate Cuts May Bring New All-Time Highs
Summary
Bitcoin's price hovered around $70,600 after a failed attempt to rally past $72,000. Spot selling on exchanges and short futures positions contributed to the price pressure. The broader crypto market also experienced a pullback. Analysts anticipate a potential breakout to new record highs due to easing monetary policies by central banks and upcoming economic data releases. Standard Charter's Geoffrey Kendrick maintains a $150,000 price target for BTC by year-end and anticipates a possible new all-time high in the next few days.
