Bitcoin’s rejection near the $65,000 resistance shows that the bears want to keep the price inside the lower half of the $54,000 to $73,777 range, but the bulls are not willing to give easily. The latest 10x Research report pointed out that Bitcoin is ready for a rally, considering that it is entering the historically strong season from October to March. Another bullish development for the cryptocurrency markets could be the aggressive 50 basis point rate cut by the Federal Reserve on Sept. 18.

CoinShares’ latest weekly digital asset fund flows report said the rate cut could have triggered inflows of $321 million into digital asset investment products last week.

The bulls are trying to drive Bitcoin above the $65,000 overhead resistance, but the bears have held their ground. If the bulls do not cede much ground to the bears, the likelihood of a rally above $65,000 increases.

The BTC/USDT pair could surge to $70,000, where the bears are expected to mount a strong defense. This optimistic view will be negated in the near term if the price turns down and breaks below the 20-day EMA ($60,621).

The pair may slide to the 50-day SMA ($59,382) and later to $57,500.

Lastly please check out the advancement’s happening in the cryptocurrency world

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