Bitcoin Consolidates Below $90k, Fed Rate Cut Probability Might Spark Pump
In the last couple of days, the crypto space has been just going through the motions. SpaceX moved 1,083 Bitcoin (BTC), roughly $100 million, to new wallets. At the time, had dropped to $88k, from which it has only slightly recovered, trading at today.
For now, it looks like SpaceX has just shuffled its BTC around for custody reasons and does not plan to sell them.
However, BTC did fall around the time, just before the PCE inflation data and the big options expiry. As of right now, BTC is trading 0.15% on the 24-hour charts and is down by 2% on the weekly chart.
Looking at the daily chart, it looks like BTC is finally breaking out of the long red downtrend channel, hinting that the worst of the sell-off might be over. As of…
