The practice of traders utilizing leveraged trades to rapidly increase their assets is causing an increase in liquidations in the cryptocurrency market. However, there are still factors in place that could potentially fuel a rise in Bitcoin. The Federal Reserve of the United States is expected to make an announcement regarding a possible interest rate reduction at an upcoming meeting just two days away. Additionally, other central banks within the G7, such as the Bank of Canada and the European Central Bank (ECB), have recently announced interest rate cuts as well.
