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Bitcoin (BTC) is back on the rebound, Thanks to the Fed slowing down its balance sheet reductions. But is this a bull trap or the start of something bigger? BTC's price action mirrors 2016, says Rekt Capital. So buckle up for potential dips, but the bottom is near! On-chain metrics hint at a market bounce with the STH MVRV ratio at -6%. Historically, bounces happen when this ratio is negative. 📈 What's your take? Moon mission or more turbulence ahead? #Bitcoin #newsdaily

Bitcoin (BTC) is back on the rebound,

Thanks to the Fed slowing down its balance sheet reductions. But is this a bull trap or the start of something bigger?

BTC's price action mirrors 2016, says Rekt Capital. So buckle up for potential dips, but the bottom is near!

On-chain metrics hint at a market bounce with the STH MVRV ratio at -6%. Historically, bounces happen when this ratio is negative. 📈

What's your take? Moon mission or more turbulence ahead? #Bitcoin #newsdaily

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Federal Reserve Holds Rates Steady, Signaling Continued Tightness for Crypto and Economy The Federal Reserve announced it would maintain interest rates at their current high levels, a move that could have significant implications for the crypto market and the broader economy. Here's a breakdown: Key Takeaways: No Rate Change: The Fed decided to keep interest rates unchanged, remaining in the range of 5.25% to 5.5%, the highest in over 20 years. Inflation Concerns: The Fed acknowledged a "lack of progress" in curbing inflation, which remains above their 2% target. Slower Balance Sheet Reduction: While rates stay high, the Fed plans to slow down the pace of reducing its asset holdings starting in June. Impact on Crypto: Negative Sentiment: The sustained high-interest rate environment could further pressure the crypto market, which has already seen a significant downturn. Potential for Continued Decline: The post predicting a guaranteed drop to $42,000 for Bitcoin reflects the bearish sentiment surrounding the crypto market. Economic Outlook: Prolonged Tightness: The Fed's decision suggests interest rates will likely remain high for an extended period, potentially impacting borrowing costs and economic growth. Cautious Optimism: While acknowledging the inflation challenge, Fed Chair Powell hinted that future rate increases might not be necessary. In Summary: The Fed's decision to maintain high rates signals a continued focus on combating inflation, potentially leading to further difficulties for the crypto market and a period of slower economic growth. It's important to note that the post predicting a specific Bitcoin price target is purely speculative and should not be taken as financial advice.
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