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Bitcoin Close Above This Will Trigger Rally to $70K, Will Fed Rate Cut Help?

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Summary
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Bitcoin typically breaks out 150-160 days after a halving event, with September historically delivering poor returns.

The upcoming Fed rate cut, expected to be either 25 or 50 bps, could inject liquidity into the market.

While some expect the Fed rate cuts to fuel Bitcoin ’s rally, economist Peter Schiff warned of potential negative consequences.

The Bitcoin price has staged a strong recovery gaining 4.5% in the last 24 hours surging past $ 60,500 a day before the FOMC meeting on Wednesday .