Bitcoin Price Forecast: BTC hovers above $85,500 as Trump calls the Fed to lower interest rates
Bitcoin (BTC) edges lower, trading around $85,500 at the time of writing on Thursday, after recovering nearly 5% the previous day following the Federal Reserve's (Fed) decision to keep interest rates unchanged and maintain its rate cut forecast for the year. Additionally, United States (US) President Donald Trump posted on the Truth Social platform on Wednesday, calling on the Fed to lower interest rates as tariffs start to hurt the economy. The US spot Bitcoin Exchange Traded Funds (ETFs) have recorded inflows for the third consecutive day this week, signaling a reduction in sell-side pressure.
BNB Price Forecast: Bulls aim for $680 mark
BNB (BNB) price is trading slightly above $624 on Thursday after finding support around its key level the previous day. The technical outlook suggests a rally ahead as momentum indicators show a bullish projection, targeting $679.90.
Crypto market testing resistance
The cryptocurrency market has been on the rise, growing by over 5% since Tuesday and reaching a total capitalisation of $2.81 trillion. Optimists are hopeful that, after hitting recent highs, the market is ready to shift towards growth. However, despite this excitement, it’s important to note that the crypto market has yet to break above its 200-day moving average, currently sitting close to $2.9 trillion. A strong rally above this level could trigger an active buying phase, but there’s also a risk of bears setting up a trap, as they’ve done several times before.
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Bitcoin (BTC) price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the United States (US) Securities and Exchange Commission (SEC) that Proof-of-Work (PoW) mining rewards are not securities could boost BTC investors' confidence.
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