Bitcoin is currently trading at 87,400 USD, rebounding 6% from a low of 82,100 USD, despite a significant drop that marks its longest slump since June 2024, pointing towards a possible bull trap below 80,000 USD.
The likelihood of a Federal Reserve rate cut in December has increased from 40% to nearly 70%, influencing trader sentiment and indicating a cautious outlook as experts warn about ongoing market pressures.
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