Bitcoin Price Retreats From 2023 Highs As Rate Cut Hopes Fade
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Bitcoin price pulled back on Thursday as investors reassessed expectations for Fed rate cuts in 2024.
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Broader crypto and stock markets also trended lower as rate cut hopes were tempered.
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Despite the pullback, analysts say Bitcoin could still revisit $40K if bulls can reclaim $38K as support.
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If Bitcoin breaks below its 20-day moving average near $36K, it risks falling to support around $33K-$34K.
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Bitcoin is currently trading around $36,300, down about 0.6% over the past 24 hours.