Bitcoin (BTC) marked its third consecutive green day—the first time in 50 days—but faced rejection at a key resistance level of $58,000. With the possibility of a Fed rate cut just a week away, BTC needs to break through the critical psychological barrier of $60,000 to sustain its rally toward a new all-time high. In the latest surge, over $93 million worth of short positions were liquidated.
Among the top 500 tokens, Rocket Pool’s RPL stood out, posting a 22% gain, even as the Liquid Restaking Token (LRT) narrative appears to be losing momentum following the EigenLayer token launch. On the flip side, Helium’s HNT, a leading token in the Decentralized Physical Infrastructure (DePIN) space, saw a 7% drop, becoming one of the biggest losers as its recent growth rally paused.
Global markets eagerly await the US Consumer Price Index (CPI) report tomorrow, which could significantly influence the Fed’s rate-cut strategy in the upcoming meeting and beyond.
