Fed FOMC comments and Bitcoin ‘bear channel’ could kickstart a decline to $28K
Crypto market weakness continues into May as analysts suggest that deteriorating sentiment could lead Bitcoin price to re-test $28,000. The start of May has seen a continuation of the weakness in crypto and equities markets and at the moment, there is no indication of any short-term factors that could reverse the bearish trend.Equities markets are also in a downtrend and according to researcher Clara Medalie, the price of stocks from companies with exposure to Bitcoin (BTC) have also taken a notable hit.Bitcoin vs. BTC exposed companies. Source: TwitterMedalie said:“Block, Tesla,....
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Yesterday’s FOMC meeting of the U.S. Federal Reserve (FED) brought less volatility to the Bitcoin market than many experts had expected. The Bitcoin price moved in a narrow range during and after the meeting. Ultimately, the Fed raised interest rates by 75 basis points, as expected. The FOMC statement said the Fed would “take into […]
The Federal Open Market Committee has surprised markets by speaking in dovish tones about the US and the global economy. While many people expect the Fed... and we examine the implications for the economy and Bitcoin. Meanwhile, the Bitcoin Price, along with Gold, continues advancing. The layout of the article has changed. Bitcoin price analysis is now posted as the final section and updates made during the European and US sessions will be added after it, at the bottom of the article. The chronology of price development should be easier to follow. Links to the various sections are provided....
Bitcoin and the entire crypto market are currently waiting with bated breaths to see the outcome of the FOMC meeting. The United States Federal Reserve Open Market Committee (FOMC) meeting began on Nov. 1 and the market now waits patiently for the decision of the Fed. In the last couple of months, the FOMC meeting […]
Economist Timothy Peterson believes that the coming rate cuts, which the Fed already has planned, will rally the market, pump Bitcoin, and kickstart the new alt season. Peterson’s comments come just one day after the Federal Reserve cut rates by 0.25%, with CME’s FedWatch placing the odds of a favorable decision at 96% several weeks […]
On Wednesday, the Federal Open Market Committee (FOMC) and Fed chair Jerome Powell held a press conference concerning the American economy, the central bank’s plans to address inflation, and the ongoing Russia-Ukraine war. Powell announced that the FOMC decided to increase the benchmark bank rate by a quarter percentage point and further noted the Fed anticipates “ongoing increases…will be appropriate.” Federal Reserve Increases Benchmark Bank Rate For the first time since the onset of the Covid-19 pandemic, the Federal Reserve announced that it increased the....