• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
bitcoin bull run

Expectations Of Aggressive FED Drop, Here’s Why Bitcoin Could Rise To $50K

Reynaldo Marquez by Reynaldo Marquez
11 months ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

Bitcoin stumbles as it approaches the mid area around its current levels. As reported yesterday, there was a large number of asks orders at $45,000, and $48,000, which could continue to operate as resistance in the short term.

Related Reading | TA: Why Ethereum Could Rally Further Above $3K

At the time of writing, Bitcoin trades at $43,748 with a 2.1% loss in the last 24-hours and a 14.1% profit in the past 7 days.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!
Bitcoin BTC BTCUSD
BTC with moderate gains on the daily chart. Source: BTCUSD Tradingview

Market participants seem to be wondering if the price of Bitcoin will be able to sustain its current momentum. At the moment, the benchmark crypto displays some weakness and trends lower during the day.

Data from Material Indicators suggest potential support for Bitcoin’s price around $43,500. As seen below, there are around $5 million in bid orders at those levels, with $7 million in additional bids orders lower at $41,600, in case of further price action.

Bitcoin BTC BTCUSD
BTC’s price (blue line on the chart) with considerable resistance to the upside (red and yellow lines above price). Source: Material Indicators

$45,000 remains major short-term resistance, as mentioned, with over $20 million in asks orders from $44,800 to that level. Even if the price of Bitcoin can break above those levels, there is an extra stack of asks orders at $46,000.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The market could be reacting to the situation between Russia and Ukraine, but more importantly for BTC’s price trajectory, it is the impact of this conflict on a potential interest rate hike from the U.S. Federal Reserve (FED). Per Yahoo Finance, FED Chair Jerome Powell said on a potential monetary shift:

(the FED) remained on track to raise interest rates later this month as the economy remained firm despite ongoing political tensions.

The Market Speaks, How Bitcoin Could React

According to a pseudonym crypto analyst, expectations of a hike in interest rates have turned positive. Thus, why BTC’s price could be experiencing a relief bounce. Based on the target rate probabilities of an increase for rates, the market favors a 25-bps hike.

Bitcoin BTC BTCUSD
Source: tedtalksmacro via Twitter

The analyst believes this could translate into a slow upward trend for Bitcoin:

Mr. Market is saying no to a 50bps rate hike in March and yes to a 25bps hike – that means that the risks headed into this month’s Fed meeting are (imo): A) No hike = #BTC to $50k+, B) 50bps hike = Bitcoin to mid 30k, C) 25bps hike = Bitcoin continues to slowly trend higher.

As NewsBTC has been reporting, there are seemingly two scenarios for Bitcoin and the crypto market going into a possible interest rates hike. In the first scenario, the FED announces an aggressive change to its monetary policy. Director of Global Macro for Fidelity Justin Timmer said on this possibility:

The ongoing inflation news will force the Fed to tighten so many times that it eventually “breaks” something, which will in turn force it to pivot much like it did in 2018 after a 20% sell-off in equities.

Related Reading | TA: Bitcoin Consolidates Below $45K, What Could Trigger A Correction

The second scenario will be more bullish for Bitcoin, and it seems more likely according to the data presented above. In this scenario, the FED takes a more passive stance and allows the market to “tighten” on its own by raising rates with an initial 25 bps this month, topping at 2% in 2023.

Tags: bitcoinbtcbtcusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

2 days ago
Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

2 days ago
Bitcoin

Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?

2 days ago
Bitcoin Investors Turn Greedy For First Time Since March 2022

Bitcoin Investors Turn Greedy For First Time Since March 2022

2 days ago
Bitcoin Supply In Loss

Bitcoin Supply In Loss Hits A 9-Month Low

3 days ago
Bitcoin Retracement

Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?

3 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom (FTM) founder makes announcement as they complete 100% rally, Solana (SOL) development updates & Why investors are flocking to Snowfall Protocol (SNW)

January 29, 2023

Dogecoin (DOGE) and Axie Infinity (AXS) Don’t Offer The Same 1000x Potential As Snowfall Protocol (SNW) According To Market Analysts

January 29, 2023

Crypto Market News Live: Aptos Soars Another 60% This Week in A Continued Price Rally, PancakeSwap Burns $100m Worth Of CAKE, Snowfall Set to Moon After Exceptionally Successful Presale Campaign

January 29, 2023

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.