Bitcoin is consolidating below $39,000 on Monday, as investors await decisions from the Federal Open Market Committee’s two-day meeting, which will conclude on Wednesday.
Fed... Bitcoin is consolidating below $39,000 on Monday, as investors await decisions from the Federal Open Market Committee’s two-day meeting, which will conclude on Wednesday. Fed Chairman Jerome Powell said earlier this month that the central bank intends to raise its policy interest rate by a quarter-percentage point following the end of its March meeting to combat inflation, which rose to a 40-year high in February.
“If Bitcoin can break above $39.6k with conviction then $42k becomes the next level of interest before a cluster of recent highs below $46k come into play. A break above here would turn the outlook for Bitcoin positive,” Cawley wrote.
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