Following an extremely turbulent past few days in the traditional financial markets, with an unexpected rate cut from the U.S. Federal Reserve (Fed) yesterday, bitcoin (BTC) is still trading above the key 200-day moving average line.
As of press time on Wednesday (13:47 UTC), BTC is trading at USD 8,765, or 0.4% lower than at the same time yesterday, despite good news from India. However, the current price is somewhat higher compared to the lows seen yesterday, when bitcoin traded even closer to the USD 8,700 level, below the important 200-day moving average level.
https://cryptonews.com/news/bitcoin-remains-in-consolidation-above-key-barrier-5947.htm
