Bitcoin stuck at $116K resistance until ‘decisively reclaimed,’ says Bitfinex

There’s division among crypto analysts over how Bitcoin will react to the Fed’s decision on Wednesday, whether or not a rate cut is announced.

Bitcoin has established a new resistance around $116,000, which is unlikely to change until the cryptocurrency gains renewed momentum, Bitfinex analysts say.

However, two potential catalysts on the horizon could help bolster the price of Bitcoin (BTC).

“BTC now trades at the upper edge of the range near $116,000, which remains resistance until decisively reclaimed,” Bitfinex said in a report on Tuesday. 

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