Bitcoin’s price shot up to an intraday high of around $94,600 minutes ago. This marks a 3.5% increase over the past 24 hours, sparking hopes of a prolonged recovery and a push toward the coveted $100,000 level.
The increase comes a day before the next meeting of the US Federal Reserve, where they will announce their decision on the current interest rates.
At the time of this writing, Polymarket places 96% chances of success for bets predicting a 25 bps cut tomorrow.
Meanwhile, the most recent move left more than $66 million in leverage short positions liquidated in the past hour alone.
For the past day, the total sum of liquidations has approached $400 million, over $311 million of which are short traders.
The post Bitcoin Price Soars to $94K on Escalating Odds of Another Rate Cut appeared first on CryptoPotato.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
