Bitcoin Price Jumps to $63,000 After US Federal Reserve Policy Shift

Recently, Bitcoin’s value saw a significant increase, hitting $63,000 after the US Federal Reserve’s much-awaited policy shift.

Bitcoin price surged to a high of $63,500 on September 18 after the US Federal Reserve cut interest rates for the first time in years. The apex coin’s price surged as traders eyed a possible breakout above $65,000.

Bitcoin price saw a short liquidation of nearly $84 million on September 18. Of the total, nearly $71 million belonged to sellers.

IntoTheBlock data showed that 88% of Bitcoin holders were in the green, while 12% broke even. No investors were currently experiencing losses.

Bitcoin price surged to a high of $63,500 on September 18 after the US Federal Reserve cut interest rates for the first time in years. The apex coin’s price surged as traders eyed a possible breakout above $65,000.

The price surged past 23.6% Fib level and was trading well above the EMA20 trend line, aiming to meet bullish goals. The current level was crucial for the bulls to hold, as falling below it could lead to the retest of $61K support level.

As the RSI level now hovered around the overbought region at level 71, BTC price might soon trigger a minor correction.

If the price continued to hold above the 20-day EMA, it could set the stage for a push above $65,000. Such a move might initiate a recovery toward $68,000 and potentially extend to $70,000.

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