Bitcoin Points to Fresh Record Highs after Powell Testimony; Here’s Why
Bitcoin dropped on Tuesday, with its bull run foreshadowed briefly by short-term profit seekers. The benchmark cryptocurrency plunged almost 1.5 percent to $19,385 ahead of the New York opening bell, suggesting that traders secured their gains at local tops. The modest sell-off sentiment surfaced after Bitcoin established a new record high of $19,873. It also […]
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On this "Fed Watch," the hosts discussed Tether FUD, Jerome Powell's latest speech and bitcoin price action. The post Tether, Powell Testimony And Bitcoin Hegemony appeared first on Bitcoin Magazine.
Testimony from the Fed Chair provides no surprises while risk assets meander on the Wall Street open. Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewPowell keeps quiet on Fed movesData from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $20,500 at the June 22 Wall Street open.The pair had wicked below the $20,000 mark overnight before recovering, still down from the previous day's $21,700 highs.Markets braced for....
Bitcoin fell by almost 20 percent after touching its record high of $58,367 on Sunday as traders decided to secure their profits against the US economy's recovery prospects.
On this "Fed Watch," the hosts discussed Tether FUD, Jerome Powell's latest speech and bitcoin price action.
Key Bitcoin Takeaways Bitcoin reversed its short-term downside bias after Elon Musk introduced a new BTC payment option on Tesla online stores. Meanwhile, the US dollar index reached a fresh year-to-date after Jerome Powell’s congressional testimony on Tuesday. One researcher warned that any further strength in the US dollar market could force Bitcoin prices lower. […]