The use of leveraged trades by traders to rapidly increase their assets is causing increased liquidations in the cryptocurrency market. However, there are still factors in place that could potentially lead to a rise in Bitcoin. The Federal Reserve of the United States is expected to make an announcement regarding a possible interest rate cut at an upcoming meeting in two days. Last week, other central banks in the G7 such as the Bank of Canada and the European Central Bank (ECB) had already announced interest rate cuts.
