Bitcoin

The Federal Open Market Committee, which sets interest rates, stated that ongoing rate increases within the target range will be appropriate, which suggests another hike could occur at the Fed’s meeting next month, albeit likely below 0.75 percentage points as some traders expected. Source link

Bitcoin (BTC) price has been stuck in a falling wedge pattern for the past two months and during this time it has tested the $37,600 support on multiple instances.  Adding to this “bearish” price action, BTC is down 16% year-to-date, which is in line with the Russell 2000s performance. Bitcoin/USD 1-day chart at FTX. Source: TradingView The real driver of Bitcoin’s current price action is investors’ concerns about worsening macroeconomic conditions. Professional investors are worried… Source link

Coin Stories Podcast host Natalie Brunell weighs in, arguing that people should recognize the ‘the long-term value’ of bitcoin. Coin Stories Podcast host Natalie Brunell called bitcoin the “best savings technology that’s ever been invented” and said that she views the cryptocurrency as “a store of value.”   The Bitcoin educator made the comment on  “Varney & Co.,” reacting to Musk reportedly calling bitcoin “a liquid alternative to cash” in a recent Securities and Exchange… Source link

Text size Bitcoin recently has been trading in a relatively tight range around $40,000. Dreamstime … Source link

“It would be an incredible surprise if the Fed didn’t lift rates by 50bp at this meeting – this is well priced, with the swaps market pricing 51bp of hikes – where we do see an issue is pricing around the June FOMC (Federal Open Market Committee) meeting, with a 25% chance of 75bp hike – this seems a tad lofty, but it has come down from 50% last week,” Chris Weston, head of research at Pepperstone, wrote in the Daily Fix newsletter. Source link

Bitcoin (BTC) saw classic “choppy” price action on May 4 with hours to go before fresh Federal Reserve cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bulls pin hopes on history Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it bounced between support and resistance after hitting $37,600 on the evening of May 3. A subsequent bounceback saw the pair clip $39,000 at the time of writing, providing relief to low-timeframe traders at 4.1% off the… Source link

America’s largest crypto exchange Coinbase has been revealed as the mystery firm that took out Wall Street’s first Bitcoin- (BTC)-backed loan from Goldman Sachs. Goldman Sachs has $2.5 trillion assets under management as of 2021. Bloomberg reported on Tuesday that the Bitcoin-backed loan issued by Goldman Sachs had been taken out by Coinbase as a way to deepen ties between the crypto and traditional finance (TradFi) world, with the head of Coinbase Institutional Brett Tejpaul stating… Source link

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Bitcoin (BTC) has been unable to break from the 26-day-long descending channel. Investors are uncomfortable holding volatile assets after the United States Federal Reserve pledged to reduce its $9 trillion balance sheet. While inflation has been surging worldwide, the first signs of an economic downturn showed as the United Kingdom’s retail sales fell 1.4% in March. Moreover, Japan’s industrial production dropped 1.7% in March. Lastly, the U.S. gross domestic product fell 1.4% in the first… Source link

Bitcoin (BTC) topped out at around $46,000 on April 4 before freefalling back to $38,000, causing much frustration among crypto traders who have been so used to the market’s unreal returns in the past two years after the March 2020 crash.  February and March showed signs of recovery, especially after the steep declines in December and January. But, the question is, why has the bullish momentum suddenly come to a halt? Continued S&P 500 correlation The correlation between crypto and equities,… Source link