Bitcoin Holding Above $26K Is ‘Remarkable’ as Equities Take a Hit. What’s Next for BTC’s Price?
The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains.
Binary trading platforms with better performance and payouts
BTC price
The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains.
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.
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.
Crypto markets slumped Monday, possibly in part due to fears of FTX unloading its $3.4 billion crypto assets.
There’s a high probability of approval on or before the SEC’s final deadline in mid-October for a decision on the first ether futures ETF in the U.S.
The accumulation by BTC whales suggests optimism among large investors, IntoTheBlock’s head of research noted.