Bitcoin’s all-time high was on March 14, 2024, trading at $73,750.07 per bitcoin. The lowest intraday price that the crypto traded in the past year was $26,011.47 on Sep. 25, 2023. The original crypto is up by 120% year over year.

Bitcoin (BTC) dipped at the Sept. 18 Wall Street open as crypto markets anticipated the US Federal Reserve interest rate decision. Bitcoin short liquidations expected in FOMC countdown Data from Cointelegraph Markets Pro and TradingView showed a 1% BTC price drop accompanying the start of the US trading session.

The Bitcoin price recently invalidated the rounding top pattern as the bulls took charge of the price around the $57,681 support, pushing the price back above the $60,000 level, data from GeckoTerminal shows. BTC price has formed a rounding bottom pattern, which the bulls aim to capitalize on to push the price toward a sustained bullish stance.

Bitcoin price is currently hovering around the $58,000 mark, however, analysts indicate that BTC could risk another downfall to $55,000.

Binance has injected more FDUSD into the market, potentially sparking a small Bitcoin (BTC) rally. This is the first inflow of FDUSD on Binance since August 23 and follows a series of token burns that limited the stablecoin supply.

Bitcoin’s price rose on Wednesday in anticipation of an interest rate cut by the Federal Reserve, while data showing an improvement in capital flows into spot exchange-traded funds also aided sentiment.