Bitcoin Price Reaches $63K+ After The Fed Interest Rate Cut Announcement

However, the slightest movement from investors in the crypto industry certainly has an impact on the state of the token. So, what is the impact of selling this large amount of BTC? Pay attention to the following points.

1. BTC prices can change along with selling large amounts of Bitcoin and affect the existing RSI indicator2. This BTC sale can trigger BTC price volatility

BTC and Its Popularity

After the Fed announced it would cut interest rates by 50 bps, Bitcoin prices tended to rise. This could trigger an increase in the prices of other tokens as well so that the crypto industry experiences a positive price shift.

Bitcoin is called the king of crypto for a reason. The reason is, when the price of BTC experiences an increase or decrease, the prices of other tokens will also be affected, both in positive and negative directions.

Even though when the price drops or during the Bitcoin halving the price of alternative coins will tend to rise because BTC dominance falls, Bitcoin’s popularity remains brilliant. This oldest token will still be suitable for investment purposes.