The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains.
Google’s cloud-computing business has stored historical data on Bitcoin since 2018, claiming the service provides faster access than can be obtained directly from the blockchain.
BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.
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.
Why all the excitement about spot bitcoin ETFs? Well, a gold ETF was a huge deal for markets, and people wonder if $BTC might be next.
The Fed on Wednesday is widely expected to hold rates steady, but investors will monitor new economic projections and Chairman Powell’s press conference for clues about the direction of future policy.
As legal challenges against Binance mount, the average spot BTC trading volume on the platform has decreased 57% since Sep. 1
Hopes for a spot bitcoin ETF and the latest regulatory actions could prove a further catalyst.
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.