Micron Technology Beats Q2 Earnings Estimates, Issues Strong AI-Driven Outlook 
Ethereum’s Institutional Breakout: BitMine Accumulation Drives ETH Toward USD 3,000 
Super Micro Computer Shares Plunge After Co-Founder Charged in AI Chip Smuggling Case 
Elliott Investment Management Takes Activist Stake in Align Technology 
Elon Musk Confirms SpaceX, xAI, and Tesla Will Continue Large-Scale Nvidia Chip Orders 
DOJ Antitrust Chief Rejects Political Fast-Track for Paramount-Skydance Deal 
OpenAI's Desktop Superapp: Unifying ChatGPT, Codex, and Browser Tools for Enterprise AI 
HSBC Considers Cutting 20,000 Jobs Amid AI-Driven Transformation 
FxWirePro- Major Crypto levels and bias summary 
Meta Eyes Massive Layoffs to Fund AI Ambitions 
Hua Hong Group's 7nm Breakthrough Signals China's Growing Chip Independence 
Apple Defies China's Smartphone Slump with Strong Early 2026 Sales 
EA's $15B Debt Offering Draws $25B in Investor Demand Amid Credit Market Turmoil 
Nvidia's Jensen Huang Forecasts $1 Trillion in AI Chip Demand Through 2027 
Bitcoin’s price hovers near $61,900 as investors anticipate a potential breakout. Historical trends suggest BTC may rally in October, especially with a Federal Reserve rate cut looming. Experts debate whether this will spark a long-awaited bull run.
Investors Eye $61,900 Breakout Level
According to well-known crypto analyst Rekt Capital, the price of Bitcoin has been making a sequence of lower highs since the end of July. Therefore, $61,900 is the important mark to keep an eye on this week. If Bitcoin manages to break over this level, it might propel its price into an upward trend.
Nearly 150-160 days after the Bitcoin halving event, BTC has historically provided a breakout. As a result, by the end of September 2024, according to this historical calendar, the price of Bitcoin will have broken out of its recovering range, Coingape reports.
September’s 4.48% Losses Could End Soon
In addition, with an average loss of 4.48%, September has a history of producing low returns. The average monthly gain, on the other hand, is 22.9% for October. Therefore, this may mark the last stage of Bitcoin's long-term consolidation.
U.S. Federal Reserve officials are plotting a dramatic shift in monetary policy at their September 18 FOMC meeting, with the intention of pursuing monetary easing through interest rate reductions. But whether this would be a 25 basis point or 50 basis point rate drop is still up for debate on Wall Street.
Bitcoin Surge Expected From Additional Liquidity
The market consensus has been that additional liquidity would flood the market as a result of the Fed rate decrease, which would lead to a surge in the price of Bitcoin.
Senator Warren of Massachusetts has asked the Federal Reserve to reduce interest rates by 75 basis points.
It will be fascinating to see if Senator Warren's words have any weight in Washington, according to Custodia Bank founder Caitlin Long. She has previously referred to Jerome Powell as "a dangerous man," so it's doubtful that the head of the central bank would even consider her requests.
Scaramucci Predicts New Bitcoin Highs
However, Anthony Scaramucci, founder of SkyBridge Capital, predicted that Bitcoin will reach new all-time highs after the Federal Reserve slashed interest rates. If not this quarter, then by the end of the year.
