Will the Fed prevent the price of BTC from reaching $28,000? — 5 things to know about Bitcoin this week
Bitcoin braces for what promises to be a tense week of rate hikes, earnings and more as BTC falls short to retrieve the crucial trendline.
Market news
Bitcoin (BTC) enters a new week with a question mark over the fate of the market ahead of another key U.S. monetary policy decision.
After sealing a successful weekly close – its highest since mid-June – BTC/USD is much more cautious as the Federal Reserve prepares to raise benchmark interest rates to fight inflation.
While many hoped the pair could break out of its recent trading range and continue higher, the weight of the Fed is clearly visible at the start of the week, adding pressure to an already risky asset scene delicate.
This fragility also manifests in the fundamentals of the Bitcoin network as the pressure on miners becomes real and the true cost of mining through the bear market emerges.
At the same time, some on-chain indicators are showing encouraging signs, with long-term investors still refusing to give in.
Cointelegraph examines the week's possible market moves in a tense week for crypto, stocks and more.
Fed to decide next rate hike in 'otherwise fun' weekThe story of the week, all things being equal, is undoubtedly the Federal Reserve rate hike.
A familiar story, the Federal Open Markets Committee (FOMC) on July 26-27 will see policymakers decide the size of the next interest rate move. It is estimated at 75 or 100 basis points.
U.S. inflation, as in many jurisdictions, is at its highest level in forty years, and its rise appears to have taken the establishment by surprise, as calls for a spike are met with further gains more important.
“This should be another fun one,” Blockware chief analyst William Clemente summed up on July 25.
The interest rate decision is due July 27 at 2:00 p.m. EST, a date that may well come with increased volatility in risky assets.
This could be exacerbated, an analyst warned, due to low summer liquidity and lack of buyer conviction.
Bitcoin braces for what promises to be a tense week of rate hikes, earnings and more as BTC falls short to retrieve the crucial trendline.
Market news
Bitcoin (BTC) enters a new week with a question mark over the fate of the market ahead of another key U.S. monetary policy decision.
After sealing a successful weekly close – its highest since mid-June – BTC/USD is much more cautious as the Federal Reserve prepares to raise benchmark interest rates to fight inflation.
While many hoped the pair could break out of its recent trading range and continue higher, the weight of the Fed is clearly visible at the start of the week, adding pressure to an already risky asset scene delicate.
This fragility also manifests in the fundamentals of the Bitcoin network as the pressure on miners becomes real and the true cost of mining through the bear market emerges.
At the same time, some on-chain indicators are showing encouraging signs, with long-term investors still refusing to give in.
Cointelegraph examines the week's possible market moves in a tense week for crypto, stocks and more.
Fed to decide next rate hike in 'otherwise fun' weekThe story of the week, all things being equal, is undoubtedly the Federal Reserve rate hike.
A familiar story, the Federal Open Markets Committee (FOMC) on July 26-27 will see policymakers decide the size of the next interest rate move. It is estimated at 75 or 100 basis points.
U.S. inflation, as in many jurisdictions, is at its highest level in forty years, and its rise appears to have taken the establishment by surprise, as calls for a spike are met with further gains more important.
“This should be another fun one,” Blockware chief analyst William Clemente summed up on July 25.
The interest rate decision is due July 27 at 2:00 p.m. EST, a date that may well come with increased volatility in risky assets.
This could be exacerbated, an analyst warned, due to low summer liquidity and lack of buyer conviction.
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