"Inflation and rate concerns could be what [has been] keeping crypto prices depressed," Noelle Acheson wrote in her"Crypto is Macro" newsletter Tuesday."These usually recover relatively quickly, but the new lower BTC level seems to be holding, reinforcing the idea that there are just not enough new buyers ready to take positions yet."
"Today's FOMC presser commentary could prove to be a crucial factor, potentially shaking both ETH and BTC out of their current consolidation patterns," said Sean Farrell, head of digital asset research and strategy a FundStrat."As investors eagerly await the outcome, the question remains whether the market will finally break free from its lackluster state or continue to remain subdued," he added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Slogs Near $29.2K While DOGE Spikes Ahead of Likely Fed Rate HikeBitcoin slinks along near $29.2K, other major cryptos are mixed, although popular memecoin DOGE climbed after dogecoin fan Elon Musk's rebranding of Twitter. Investors now await a likely federalreserve 25 bps interest rate hike. JPRubin23 writes
Source: CoinDesk - 🏆 291. / 63 Read more »
Innovative Heating Solutions: Bitcoin Miners Turning Heat Into Satoshis – Mining Bitcoin NewsWhile the clothes dryer serves to dry clean laundry, the bitcoin mining machine also compensates the owner in satoshis.
Source: BTCTN - 🏆 531. / 51 Read more »
Rare 2010 Bitcoin Block Reward Stirs After 13 Years of Dormancy – Bitcoin NewsSo far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoin.
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin, Ethereum Technical Analysis: BTC Consolidates, as Markets Prepare for 25-Basis-Point Fed Rate Hike – Market Updates Bitcoin NewsBitcoin consolidated marginally above the $29,000 level on Wednesday, ahead of today’s Federal Open Market Committee (FOMC) meeting.
Source: BTCTN - 🏆 531. / 51 Read more »