Bitcoin Faces Potential Drop to $50,000 Amid Double Top Pattern and Upcoming PCE Data

Bitcoin’s recent double top formation suggests potential price decline if vital support is not maintained. Upcoming Personal Consumption Expenditures (PCE) data might support Federal Reserve rate cuts, offering potential stabilization in Bitcoin markets. Economic metrics are significantly impacting Bitcoin, with current trends elevating bond yields and suppressing precious metals. Bitcoin’s price teeters as double top

Source: CoinOtag