Treasury Secretary Scott Bessent's announcement to double U.S. bond buybacks signaled potential Fed rate cuts ahead. Crypto markets rallied on expectations of looser monetary policy.
With Bitcoin's daily moving averages in bullish alignment and RSI at 72, traders are watching $80K as the next resistance. A break there would confirm the bear market is over.
Short-term support now rests at $72K—the swing low from August 17. A close below $70K would signal the rally is losing momentum.
Thinner weekend trading could trigger volatility. Traders should be ready for profit-taking swings between $73K–$75K before the market settles Monday.
The crypto market's total value surged to $2.56 trillion as Bitcoin's momentum lifted all major coins. Fear & Greed Index climbed to 72 (Greed).
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