Bitcoin (BTC) no logró recuperarse bruscamente después de la caída del 11 de diciembre, lo que sugiere presión de venta sobre los repuntes de alivio. Los datos de Glassnode muestran que los titulares a corto plazo (STH), entidades que poseen Bitcoin durante 155 días o menos, enviaron $1,93 mil millones de dólares en Bitcoin a las bolsas el 11 de diciembre y $2,08 mil millones de dólares el 12 de diciembre. La marca de los 2.000 millones de dólares se remonta a junio de 2022. Esto demuestra que los especuladores tienen prisa por deshacerse de sus tenencias.

Sin embargo, los niveles más bajos están atrayendo compradores. Los indicadores materiales de recursos comerciales sugirieron que se podían ver ofertas de “tamaño institucional”, pero agregaron que no estaba claro si se trataba de una acumulación o de una oportunidad comercial a corto plazo con compras en caídas y ventas en repuntes.

Solana stabilizes at $65 after a recent dip from 2023 highs at $78.

Technical indicators suggest potential upward momentum for SOL, with a predicted breakout if it holds above key levels.

Investor anticipation of SOL’s potential breakout above $80 by December end remains strong.

Following a recent pullback from its 2023 highs of $78, Solana has found stability at the $65 mark. This decline was observed in tandem with corrections in major cryptocurrencies like Bitcoin and Ethereum, contributing to a 2.1% dip in the overall market cap to $1.61 trillion.

However, amidst this adjustment, technical indicators are hinting at potential upward momentum for SOL. Notably, Solana’s price is rebounding from the $65 congestion zone highlighted on the four-hour chart, suggesting a possible revival of the uptrend if it maintains above this level. Traders are advised to monitor a break above the upper ascending trendline, signaling a resumption of the upward trajectory.

While the Moving Average Convergence Divergence (MACD) persists below the neutral range, there’s significant potential for a buy signal. If a bullish crossover occurs, indicating the MACD line surpassing the signal line, traders and investors could view the current downturn as a favorable moment for purchasing.

Moreover, indicators like the Relative Strength Index (RSI), while not yet oversold, show signs of a rebound from lows at 36. This drop seems to have attracted more holders to accumulate SOL in anticipation of a larger breakout. Speculations among investors are rife, targeting levels not just around $80 but potentially surpassing $100 before December concludes.

Additionally, with the upcoming Federal Reserve meeting on interest rates and easing inflation in November, the crypto market, including Solana, appears to be taking a temporary pause. Despite this, investor sentiment remains bullish, underpinned by a broader trend of disinflation.

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The post Solana Finds Stability at $65: What Lies Ahead for the Cryptocurrency? appeared first on Crypto News Land.

The US Federal Reserve opted to maintain its benchmark interest rate at 5.50% despite acknowledging the evident slowdown in economic growth and the job market. This decision, however, arrived hand-in-hand with acknowledgment that inflation, though persistently above the 2% target, has shown signs of easing. What sent ripples through the financial world, though, was the Fed’s subtle indication of potential rate cuts in the near future, potentially up to 75 basis points, marking a notable departure from their recent tightening strategy.

This pivotal announcement didn’t just affect the traditional markets. It catalyzed a significant surge in Bitcoin’s value, propelling the leading cryptocurrency beyond the $42,000 mark. The reasoning behind this sudden upward movement lies in the anticipation surrounding the potential approval of Bitcoin exchange-traded funds (ETFs) by US regulators. The prospect of a more accessible and regulated Bitcoin market for millions of investors contributed substantially to this surge.

BTC/USDT 1 day-chart on Binance | Source: TradingView
But the impact didn’t stop there. The broader financial markets experienced a positive jolt, particularly in riskier asset categories. Investors interpreted the Fed’s potential shift towards rate cuts as a green light for riskier ventures, like Bitcoin. This pivot in sentiment stems from the conventional belief that interest rate cuts correlate with improving economic conditions, prompting a migration towards higher-risk assets like cryptocurrencies.
This intriguing correlation between the Federal Reserve’s monetary policies and Bitcoin’s value highlights the sensitivity of the cryptocurrency market to global monetary shifts. It underscores how investors, seeking diversification and potential havens amid economic uncertainties, are increasingly viewing Bitcoin as a viable addition to their portfolios.
The evolving relationship between the Fed’s stance and the crypto market reaffirms Bitcoin’s growing relevance in the broader financial landscape. As regulatory landscapes evolve and central banks navigate economic complexities, the intersection between traditional monetary policies and the digital asset realm becomes increasingly intertwined.
Source: https://azcoinnews.com/federal-reserve-hints-at-rate-cuts-bitcoin-soars-to-42000.html