$BTCUSD Forex Signal: bearish triple top pattern has formed Bitcoin bitcoinprice Bitcoin2023 bitcointrading TradingSignals
The BTC/USD pair crashed below the support at $24,600 as investors started to reset their expectations about the Federal Reserve. It has retreated to a low of 23,520, the lowest point since last week.Bitcoin retreated as investors started reassessing their expectations about the Fed and growth. In a note to investors, Mike Wilson, the head of equity strategy at Morgan Stanley, warned that thecould plunge by another 20%.
The S&P 500 outlook has an impact on the BTC/USD pair because of the close correlation that exists between the two assets. According to Bloomberg, the average estimate among analysts is that the bank will hike in the next three meetings. The terminal rate will be about 5.35%. Therefore, some analysts have started moving away from risky assets like stocks and cryptocurrencies.
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