BTC price struggles below $39K ahead of expected interest rate hike by the Fed
Bitcoin consolidates below $39,000 as one trader warns about a possible squeeze on the daily chart, while a nine-year support level continues to hold strong. The blockchain community got a bit of good news on March 14 after regulators in the European Parliament's Committee on Economic and Monetary Affairs rejected a ban on proof-of-work (PoW) based cryptocurrencies like Bitcoin (BTC) that would have had significant ramifications for the crypto industry. Data from Cointelegraph Markets Pro and TradingView shows that despite the positive development, Bitcoin continues to trade sideways near....
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The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market. FOMC Meeting Draws Near The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is....
The much-anticipated Fed rate hike is now out and, as expected, dealt a heavy blow to the broader crypto market on Wednesday. The U.S. Federal Reserve increased its policy interest rate by three-quarters of a percentage point, extending it to a range of 3 to 3.25 percent. This number represents a huge increase from March, when […]
The FOMC meeting was concluded on Wednesday and the Fed had finally made its decision public. As expected, there was another interest rate hike but surprisingly, the crypto market did not respond as expected. Instead of wild volatility, digital assets in the space were able to hold on to their gains for last week, sparking […]
Bitcoin price has been unable to pick a clear direction lately, with market participants holding out ahead of the top-tier market events this week. Perhaps the biggest market catalyst this week might be the FOMC statement, although no actual monetary policy changes are expected for now. Perhaps the biggest market catalyst this week might be the FOMC statement, although no actual monetary policy changes are expected for now. After all, the Fed just hiked interest rates by 0.25% in December and might be keen on preventing additional market volatility for now. Instead, market watchers will be....
Bitcoin has rallied roughly 7% in June on the back of strong momentum buying and continues to target higher valuations. The cryptocurrency has registered the breakout that we all have been waiting for, and that may cause immense trouble to the short-sellers. However, one interesting observation is that Bitcoin humbled the extreme selling pressure on the eve of US Fed's meeting which is expected to dole out important clues regarding the timing of the much-anticipated interest rate hike. Why Does Interest Rate Concern Bitcoin? Interest rates concern all aspects of the economy, including the....