At the beginning of this week, the price of Bitcoin experienced a pullback, falling from over $60,000 on Monday to below $58,000. Due to the Federal Reserve meeting on Wednesday to discuss dropping the benchmark interest rate, it is expected that this asset will experience high fluctuations this week.

A few hours before the event, BTC skyrocketed to over $61,000, but after the US Central Bank lowered the Interst Rate by 0.5% on Wednesday, BTC prices began to fluctuate. Nevertheless, long positions still prevailed and triggered another large-scale pump, pushing the cryptocurrency to slightly above $64,000 yesterday, the highest price in over three weeks.

However, the asset has failed to sustain its upward momentum and has since dropped by one thousand dollars, with the current trading price at around 63,000 dollars. Additionally, there are other indications that the upward trend may temporarily come to an end, and BTC may further decline.#币圈观察员