Bitcoin, Ethereum Technical Analysis: BTC Below $19,000 Following FOMC Minutes
Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes, while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in today’s session. Bitcoin Bitcoin (BTC) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which....
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Bitcoin underwent a major downside correction hours after the Federal Open Market Committee (FOMC) released the minutes of its November 5-6 meeting on Wednesday.
Bitcoin was trading marginally higher ahead of Wednesday’s United States FOMC meeting, where it is expected that the Federal Reserve will increase interest rates. As inflation continues to remain at elevated levels, many anticipate the Fed will raise rates by over 75 basis points. Ethereum was also up, after briefly falling below $1,300 on Monday. Bitcoin Bitcoin (BTC) was marginally higher on Tuesday, as markets began to prepare for tomorrow’s Federal Open Market Committee (FOMC) meeting. BTC/USD hit an intraday high of $19,639.48 earlier in today’s session, as prices....
Bitcoin moved closer to $40,000 during Thursday’s session, as traders continued to react to yesterday’s Fed rate hike. The FOMC opted to increase interest rates by 0.5% during May’s meeting, which is the largest hike in over twenty years. Bitcoin Bitcoin rose for a second consecutive session on Thursday, as bulls were buoyed by the Fed’s decision to increase interest rates. Following yesterday’s surge, BTC/USD climbed even higher during today’s session, as it moved closer to the $40,000 level. BTC hit an intraday high of $39,902.95 earlier today,....
A pricing analysis of bitcoin reveals that buyers are at a disadvantage. Price increased after a weaker opening and tested the session high of $24,448.40. However, it swiftly reversed course and tested the pivotal 21-day exponential moving average, where it is currently resting. The market action right now suggests that the bulls are running out of steam close to the higher levels and that the bears are clearing the way for more correction. The largest cryptocurrency’s 24-hour trading volume is $30,603,898,759, up more than 7%. BTC/USD, however, is currently reading at $23,422.79, a....
Bitcoin and other cryptocurrencies in the market have had an interesting week-and-a-half. From the CPI report to the completion of the Ethereum Merge, it has been a rollercoaster of volatile activity across the market. Even with this, the market is still not done with its big events. The FOMC meeting is held on Wednesday, which, like in the past, promises unpredictable movements for the crypto markets. Expect Volatility For Bitcoin The FOMC meeting has always triggered volatility across not just the crypto markets but various financial markets. Bitcoin’s reaction to the FOMC meeting has....