Bitcoin Tumbles to $26.9K on Hawkish Remarks by Federal Reserve’s Powell
The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank’s next policy meeting in November.
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The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank’s next policy meeting in November.
BTC price fell to $26,700 from $27,200 during Monday.
The world’s largest crypto has bounced from a 3-month low below $25,000 hit on Monday.
Some signs suggest potential market weakness despite Tuesday’s rally, market observers noted.
Arca’s Chief Investment Officer says there hasn’t been much to sink your teeth into as a digital asset investor this year.
Despite today’s market-wide advance, the outlook for risk assets is pointing to softer prices for the next few weeks, one observer noted.
The index has a solid track record of shifts in the bitcoin market trend.
Modest Consumer Price Index (CPI) numbers mean that the chance of another rate hike is dwindling.
The world’s largest cryptocurrency is lacking sustained momentum, the price selling off shortly after each attempted leg higher.
Prior uneventful periods preceded major eruptions in volatility for BTC’s price, crypto analytics firm K33 Research noted.