$BTC
Bitcoin's rally was supported by stronger expectations of Fed interest-rate cuts following U.S. employment data that came in below expectations, along with a pullback in the DXY. On the technical side, the strong rebound from the $57,700 support level gained momentum as short positions were closed. For now, the $58,000 zone is a critical support area. If price can hold above this level, the $61,000 resistance may come into focus, followed by attempts to set new highs.
Bitcoin's rally was supported by stronger expectations of Fed interest-rate cuts following U.S. employment data that came in below expectations, along with a pullback in the DXY. On the technical side, the strong rebound from the $57,700 support level gained momentum as short positions were closed. For now, the $58,000 zone is a critical support area. If price can hold above this level, the $61,000 resistance may come into focus, followed by attempts to set new highs.