Bitcoin lines up record fundamentals as BTC price heads into FOMC volatility.
The Sep. 17 weekly close soon gave way to upside volatility, and at the time of writing, bulls are attempting to build on that foundation to crack new month-to-date highs.Popular trader Credible Crypto thus suggested that the weekend zone could well form a “local bottom.”
The weekly close meanwhile excited Michaël van de Poppe, founder and CEO of trading firm Eight, who saw key support holding at the 200-week exponential moving average ..Van de Poppe uploaded a chart showing the interplay between spot price and the 200-week EMA, currently at $25,700, since 2020. If history is a guide, the Sep. 20 decision will induce at least some form of volatility across risk assets, with Bitcoin and crypto no exception., yet markets overwhelmingly believe that the Fed will not raise rates further to combat it.Fed target rate probabilities chart. Source: CME Group
“Fed guidance on Wednesday sets the tone for the next few meetings. Expect to see lots of volatility this week.”3. Fed Interest Rate Decision - Wednesday6. Existing Home Sales data - ThursdayExplaining the likely outcome of FOMC, crypto and macro insight resource Ecoinometrics suggested that the market odds were no surprise based on Fed signals.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC) Price Prediction: This Level Comes Next According to Glassnode Co-FounderBitcoin's price might be claiming a very important level next, according to Glassnode's co-founder.
Read more »
Bitcoin Needs to Break This Level Before Pushing for $30K (BTC Price Analysis)Bitcoin's price has been consolidating above the $25K support level following the recent drop from the key $30K zone. However, for the price to reach a
Read more »
Ultra Bullish Divergence Found in Important Bitcoin (BTC) IndexAmid Bitcoin's price stability around $26,000, intriguing surge in new BTC addresses may catch attention of crypto enthusiasts
Read more »
Gold Price Forecast: XAU/USD bulls flirt with $1,930 resistance, focus remains on FOMCGold price attracts some buying for the third successive day on Monday and steadily climbs back closer to the $1,930 supply zone during the Asian sess
Read more »
New XRP Price Predictions, BTC Price Targets, SHIB Bull Run Preparation: Bits Recap Sep 18Experts and analysts believe that the prices of XRP, BTC, and SHIB could soon rise significantly.
Read more »
Dollar dips as investors take profits ahead of FOMC meetingThe US dollar recently retreated as investors capitalised on upbeat US economic data before the Federal Reserve's forthcoming policy meeting, where 97
Read more »