Bitcoin Price Surges 5% As Fed Chair Jerome Powell Signals Rate Cuts Ahead, But Traders Pivot To This ICO With Just 2 Days Left

The
Bitcoin
price
soared
5%
in
the
last
24
hours


to
trade
at
$64,169

as
of
09:06
p.m.
EST
on
trading
volume
that
surged
55%
to
$42.8
billion.

The
pump
came
after
Federal
Reserve
Chair
Jerome
Powell
endorsed
an
imminent
start
to
interest
cuts,
saying
on
Aug.
23
that
further
cooling
in
the
job
market
would
be
unwelcome
and
expressing
confidence
that
inflation
is
within
reach
of
the
Fed’s
2%
target.

“The
time
has
come
for
policy
to
adjust,”
Powell
said
in
a
speech
at
the
Kansas
City
Fed’s
annual
economic
conference
in
Jackson
Hole,
Wyoming.

Bitcoin
Price
To
Continue
Rallying

The
Bitcoin
price
has
eventually
crossed
above
the
sideways
pattern,
as
the
bulls
win
the
struggle
with
the
bears
to
soar
above
the
consolidation
phase.

BTC
has
eventually
overcome
the
$61,326
resistance
zone,
according
to
data
from


GeckoTerminal.

BTC
now
trades
above
both
the
50-day
and
200-day
Simple
Moving
Averages
(SMAs),
affirming
the
uptrend.

Moreover,
the
Relative
Strength
Index
(RSI)
seems
to
be
rebounding
from
the
50-midline
level,
now
crossing
above
the
70-overbought
region,
currently
at
71.
The
RSI
above
the
70
level
shows
that
the
asset
is
currently
under
intense
buying
pressure.

The
Moving
Average
Convergence
Divergence
(MACD)
is
also
bullish,
as
it
crosses
above
the
neutral
line.

Based
on
the
Bitcoin
price
analysis,
BTC
is
currently
on
a
bullish
trend
as
the
bulls
capitalize
on
the
price
shifting
from
a
consolidation
phase.
If
this
trend
continues,
the
price
of
Bitcoin
could
continue
rallying,
as
the
bulls
now
target
$69,600.

However,
with
the
RSI
now
crossing
above
the
70
mark,
the
price
of
Bitcoin
shows
that
there
could
be
a
looming
price
correction.
If
this
happens,
BTC
could
retrace
to
the
$59,668
support
level
(50-day
SMA).

Meanwhile,
investors
are
rushing
to
buy
the
Play-To-Earn
(P2E)
meme
coin


PlayDoge
($PLAY),
which
closes
its
presale
in
just
2
days.

Last
Chance
To
Buy
PlayDoge
At
Presale
Price

PlayDoge
stands
out
by
merging
the
popular
meme
coin
concept
with
nostalgic
90s
gaming
that’s
inspired
by
Tamagotchi
virtual
pets. 

Players
engage
with
a
2D
Doge
pet
in
a
retro-style
app,
earning
$PLAY
tokens
through
activities
like
feeding,
playing,
and
adventuring
with
their
virtual
pets. 

Don’t
ghost
your

#Doge
or
it’ll
die
????

Feed
your
Doge,
earn
rewards,
and
level
up.
No
mazes,
just
fun!#Presale
has
launched!
????#PlayDoge

#P2E

#Memecoin

pic.twitter.com/Fp2sFwycpj

—
PlayDoge
(@PlayDogeGame)

May
31,
2024

This
combination
of
engaging
gameplay
and
financial
rewards
has
attracted
a
growing
number
of
crypto
enthusiasts.

Beyond
the
P2E
mechanics,
PlayDoge
also


offers
a
staking
feature

that
offers
token
holders
an
impressive
77%
annual
percentage
yield
(APY). 

These
features
prompted
the
popular
99Bitcoins
YouTube
channel,
with
more
than
706k
subscribers,
to
predict
that
PlayDoge
could
surge
10X
after
its
launch.

With
just
two
days
left
in
its
presale,
the
project
has
already
raised
$6.2
million,
with
each
$PLAY
token
currently
priced
at
$0.00531.

If
you
don’t
want
to
miss
out,

purchase
PLAY
tokens
directly
from
the
official
PlayDoge
website
here
using
BNB,
USDT,
or
a
bank
card.

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