Bitcoin started the week with a rebound in investor sentiment

At the time of writing these lines for you the cryptocurrency market was in green, this if we take into consideration that in the last 24 hours it has experienced an estimated increase over 1%, registering the Bitcoin price action the $27,914 and 1.5% recovery.

The scenario is still very optimistic, now according to information disclosed by Marcel Pechman of Cointelegraph, there are three reasons why Bitcoin is struggling to rise above $28,500, in this sense "Bitcoin started the week with a rebound in investor sentiment, but there are three main factors that prevent the price of BTC regain the $30,000 level".

According to Pechman, "While the recent rally toward the upper end of the current price range was likely encouraging to investors, recent comments from U.S. Federal Reserve representatives reiterated concerns about an impending economic recession"

Continued Pechman stating that "Macroeconomic forces are putting downward pressure on the price of Bitcoin. On October 2, U.S. Federal Reserve Vice Chairman for Oversight Michael Barr stated in New York that he expects economic growth to slow "below potential" due to rising interest rates constraining economic activity."

He also noted that "the full impact of current monetary policy has yet to be realized. According to CME's FedWatch tool, the market is currently evenly split on the likelihood of another Fed rate hike in 2023"

I would like to know your appreciation with the aspects discussed here.

Cointelegraph. 3 reasons why Bitcoin is struggling to rally above $28.5K. Link