Bitcoin (BTC) is holding steady around $110,800 at the time of writing on Thursday, having recovered slightly so far this week.
Cryptocurrency prices are back in the red on Monday following a short-lived rally on Friday, triggered by Federal Reserve (Fed) Chair Jerome Powell’s dovish remarks, which signalled interest rate cuts in September.
Bitcoin (BTC) advances the pullback phase below the $115,000 level to test a crucial dynamic support, the 50-day Exponential Moving Average (EMA), at press time on Monday. The pullback spreads amid broader market fear, resulting in liquidations of over $500 million in the last 24 hours.