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Bitcoin, the first and largest cryptocurrency by market capitalization, is approaching a test of a key resistance level as reported, with the market eagerly watching for its next move. At the time of writing, BTC was up 0.72% in the last 24 hours to $57,630.The crypto market awaits further data releases in the week; investors will also be weighing Federal Reserve Chair Jerome Powell's comments.
Powell delivered his opening remarks yesterday, setting the stage for a two-day speech on Capitol Hill this week. Several other Fed members are scheduled to speak this week, which may provide further insights into the Fed's economic and monetary policy expectations.The markets expect the Fed to start decreasing rates in September, followed by another quarter percentage point decrease by the end of the year.
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