Bitcoin teases new lows, but are they enough to keep bulls out of trouble on FOMC day?
The previous day’s Wall Street open had brought the latest wave of downside volatility, with the pair dipping below $27,700.feeling increasingly out of reachMarket participants’ BTC price targets reflected the mood. Michaël van de Poppe, founder and CEO of trading firm Eight, argued that a rematch with both $25,000 and $30,000 was still on the table.Twitter followers about the latest lows.
“Breaking through $28.4K and we could be back to $30K in a few days. Not breaking and folding coming days, $25K next. Big volatility on the horizon.”Referring to the May 3 Federal Reserve decision on interest rate policy, a further postBitcoin as being “in sideways territory, where bears and bulls have arguments for both biases.”
“Lots of fear going into the event of the FED tomorrow, probably unwarranted, but we'll see. Expecting slightly deeper,” Van de Poppe added.In terms of the Fed event itself, little was left to the imagination, with market sentiment beyond crypto pricing in an almost guaranteed 0.25% rate hike.
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