Bitcoin slips below $19k ahead of another crucial FOMC meeting this week

Bitcoin slips below $19k ahead of another crucial FOMC meeting this week
фото показано с : coinjournal.net

2022-9-19 17:10

The cryptocurrency market has continued its poor start to the week, with Bitcoin dropping below $19k ahead of another FOMC meeting.

The cryptocurrency market performed poorly last week, losing its $1 trillion market cap peg. The poor performance has now stretched into the new week, with the broader market losing more than 5% of its value in the last 24 hours.

As a result of the poor performance, the total cryptocurrency market cap could drop below the $900 billion mark for the first time this month.

Bitcoin, the world’s leading cryptocurrency, has underperformed in recent weeks. At press time, Bitcoin is trading at $18,954, down by more than 4% in the last 24 hours. 

The leading cryptocurrency is underperforming ahead of another crucial FOMC meeting on September 20th and 21st. 

The market is expecting another 75 basis points increase in interest rates, a move that could see Bitcoin, the crypto market, and the broader financial market perform poorly. 

So far this year, the FOMC raised federal fund rates by 25 bps in March, followed by a 50 bps in May and another 75 bps hike in the June and July meetings each. Thus, taking the present policy rate to 2.25-2.5%.

Key levels to watch

The BTC/USD 4-hour chart is negative as Bitcoin has been underperforming over the last few hours. The MACD line has stayed within the negative zone over the past week and remains there. Hence, indicating that the bears are in control. 

BTC/USD Chart By TradingView

The 14-day relative strength index of 39 shows that Bitcoin could enter the oversold region if the bearish momentum continues.

If the negative sentiment doesn’t improve, BTC could dip below the $18,713 support level before the end of the day.

Bitcoin might experience further losses ahead of the FOMC meeting and could decline below $18k for the first time in two months.

The bulls might regain control of the market and push BTC past the $19,500 resistance level over the next few hours.

Where to buy now 

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

Buy BTC with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy BTC with Coinbase today Disclaimer

The post Bitcoin slips below $19k ahead of another crucial FOMC meeting this week appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67017.2 (+0.62%)
Объем 24H $22.864b
Изменеия 24h: -0.33 %, 7d: 7.23 %
Cегодня L: $66031.14 - H: $67143.86
Капитализация $1320.293b Rank 1
Цена в час новости $ 19300.59 (247.23%)

week bitcoin fomc meeting crucial another slips

Источник: coinjournal.net

week bitcoin → Результатов: 126


Bitcoin Shows 35.8% Weekly Gains: Why This Means The Top Is Near

Bitcoin closed the past week with returns of about 35. 8%; here’s what has happened historically when the asset’s price has performed similarly. Bitcoin Registered 35. 8% Gains During The Past Week BTC has continued its strong upwards momentum recently, with the last week being one of the best-performing weeks in the history of the cryptocurrency as the coin managed to close it is 35.

2023-3-21 23:00


Фото:

Bitcoin Dips Below $20k As Post-Fed Buyers Burn Out; Insights On The Week Ahead

Major cryptocurrencies kicked off the week on a low-key after a month of robust gains that coincided with the Federal Reserve increasing interest rates by the widely anticipated 75 basis points. Bitcoin, the world’s largest cryptocurrency by market capitalization, led other crypto assets in the go-slow after losing over 4% during the weekend. As of […]

2022-9-5 21:32


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Mintlayer launches user-friendly staking platform with 198% APY

Bitcoin Layer-2 (L2) platform Mintlayer has announced an upgrade to its staking program, enhancing the user interface (UI) to make it more accessible and easier to use. The simplified staking program is integrated into Mintlayer’s blockexplorer and Mojito wallet browser extension, enabling users to stake their ML tokens and earn substantial rewards. Industry-leading APY attracts […]

PEPE takes a hit after GameStop inspired rally, here’s why it could dip lower

PEPE, one of the largest meme coins in the crypto ecosystem has wiped out 4.19% of its value early on Thursday. The return of legendary trader “Roaring Kitty” associated with GameStop’s 2021 rally catalyzed gains in top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Popcat (POPCAT) and PEPE, among others.  […]