Fed ‘will determine the fate of the market’ — 5 things to know in Bitcoin this week

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 67 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Bitcoin is looking to move on from a historically bad April, but the U.S. Federal Reserve could determine its next direction. (Reporting via WilliamSuberg)

In the event, 102 was little problem for DXY, which may stand to gain even more should the Fed rate hike decision be on the upper end of the spectrum.

“The development of the USD is highly dependent on the Fed’s course of action. The rising inflation and potential 50bps rate hike in early May could strengthen the DXY,” Glassnode added.along with crypto in USD terms in recent weeks, with a particular focus on the fate of the Japanese yen. Japan, unlike the U.S., continues to print vast amounts of liquidity, devaluing its currency even further.

The result is Illiquid Supply Change reaching levels not seen since late 2020 when BTC/USD began to exhibit signs of a “supply shock” as market participants piled into what was already a solidly “hodled” asset class. “This number is reaching peak high numbers, which we’ve also seen in 2020 . Ultimately, a large number of coins are ‘illiquid,’ which adds to the potential of a possible supply shock,” Cointelegraph contributor Michaël van de PoppeContinuing, Van de Poppe argued that the indicator “tells a lot” and could even take some of the fear out of a dip to $30,000.

“Yes, the market can still make a new lower low in which the bear market continues and a hit of $30K can be reached. But, fundamentally, the data tells a lot,” he added.In what could be a silver lining under current circumstances, crypto sentiment is already pointing higher this week, even as traditional market sentiment remains nervous.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 562. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

With an 'Aggressive' Fed Rate Hike Expected Next Week, Stocks and Crypto Markets Lose Billions – Market Updates Bitcoin NewsThis Wednesday, Federal Reserve policymakers are expected to raise the benchmark interest rate aggressively. Economics Gold Stocks Crypto wsgtoken Best gamefi Play to earn Earn 1/500$ a day +1,445,000 holders +420,000 watchlists 🔥 The NEW GAME - DUNK IT is here! 🕹 👉 GPlay (wait to be shown on the storefront): 👉 iOS Test Flight: 👉 APK: I barely trust people when it comes to online business, but after i saw recommendations about protraderjason i decided to give him a try and it was the best decision ever Don't worry... Just patience... Dolar USD will dump One day with pressure ... Just see
Källa: BTCTN - 🏆 531. / 51 Läs mer »

Jobs report, Fed decision, CVS earnings top week aheadFOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. want to see me without a bra?
Källa: FoxBusiness - 🏆 458. / 53 Läs mer »