Bitcoin sell-off continues as BTC nears $31K ahead of Powell’s speech
The latest price declines came after the U.S. inflation rose to a 30-year high in June. Bitcoin’s (BTC) price continued its downtrend Wednesday ahead of the testimony from United States Federal Reserve Chairman Jerome Powell.The spot BTC/USD exchange rate fell to its 17-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to $31,515, extending their week-to-date losses to 9.5%.Bulls step in at $31.5K to buy the Bitcoin dip. Source: TradingViewBitcoin had powered to $35,000 at the beginning of July, as bulls continued to defend support....
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It is Monday. Bitcoin is holding above crucial technical support at $11,400. Meanwhile, its safe-haven rival, the US dollar, is experiencing a sharp decline. The inverse correlation between the two stark assets is visible all over again. Only this time, the catalyst that is driving them into different directions is a Jerome Powell speech on […]
Bitcoin slipped into negative territory ahead of the Federal Reserve Chairman Jerome Powell’s scheduled speech about the US economy. The benchmark cryptocurrency waved between profits and losses, only to fall by 0.85 percent to $10,701 ahead of the New York opening bell. Futures tied to Bitcoin also plunged by 0.37 percent, signaling a rough start […]
The Federal Reserve raised interest rates again, but Jerome Powell’s speech leaves many feeling uncertain as to the course the Fed will take in the future.
Bitcoin pushes up on the last day as the market prepares for the upcoming speech from the U.S. Federal Reserve (FED) Chairman Jerome Powell. Despite the recent gains, the general sentiment in the crypto market remains bearish. Related Reading | Bitcoin Seen Dropping To $32K – But Not This Month – As Analyst Sees It Hitting $48K At the time of writing, Bitcoin trades at $38,800 with a 1.5% profit in the last 24-hours. The first cryptocurrency by market cap could surprise market participants. Some operators have started predicting a massive crash ahead of Powell’s intervention. The old....
Bitcoin has closed about important resistance but continues to move sideways in the last 24 hours as the altcoins sector shows more strength. The first cryptocurrency by market cap might be forming a range between its yearly low at around $18,000 with a top near its previous highs. Related Reading: WATCH: Will Powell’s Friday Speech Send Bitcoin Soaring? Daily TA August 25, 2022 At the time of writing, Bitcoin (BTC) trades at $21,600 with sideways movement in the day and a 7% loss over the past week. Trader Josh Rager shared a potential thesis for the price of Bitcoin and its future....