Bitcoin Price Short-Term Upswing In Peril As Bulls\u2019 Aggression Dies Down<\/title>\n<meta name=\"description\" content=\"Bitcoin price (BTC) is grappling to maintain the level above $23,500. BTC trying to crawl above $23,500 on August 18 Bulls\u2019 aggression ebbing Immense\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-price-short-term-upswing-in-peril\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Short-Term Upswing In Peril As Bulls\u2019 Aggression Dies Down\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price (BTC) is grappling to maintain the level above $23,500. 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{"id":499310,"date":"2022-08-19T16:02:57","date_gmt":"2022-08-19T16:02:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=499310"},"modified":"2022-08-19T16:02:57","modified_gmt":"2022-08-19T16:02:57","slug":"bitcoin-price-short-term-upswing-in-peril","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-short-term-upswing-in-peril\/","title":{"rendered":"Bitcoin Price Short-Term Upswing In Peril As Bulls\u2019 Aggression Dies Down"},"content":{"rendered":"

Bitcoin price (BTC) is grappling to maintain the level above $23,500.<\/span><\/em><\/p>\n

\n
BTC trying to crawl above $23,500 on August 18<\/span><\/li>\n
Bulls\u2019 aggression ebbing<\/span><\/li>\n
Immense selling pressure this week could invalidate the prevailing bearish price trend<\/span><\/li>\n<\/ul>\n
The king of crypto tries to keep the uptrend consistent which has peaked for over two months.<\/span><\/p>\n
Related Reading: Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone<\/a><\/div>\n
Bulls Losing Their Aggression?<\/strong><\/h2>\n
Judging by the daily chart, it\u2019s apparent that the bulls\u2019 aggression is fading out and will need to exhibit a revolutionary strength to keep the price at a high level that has been playing out positively for the past two months.<\/span><\/p>\n
Intensified selling pressure this week could counter the price trend that is seen to soar. The price of the pioneering digital asset had a massive level drop following the July\u2019s meeting of the Federal Reserve that ruined expectations of a more adaptive monetary policy in 2023.<\/span><\/p>\n
$\"\"$ <\/p>\n
Chart from TradingView.com<\/a><\/pre>\n
On August 17, Bitcoin price has plunged by roughly over 2% or a trembling drop below the positive trendline formed from the lows registered on July 15 and July 26; respectively.<\/span><\/p>\n
The Federal Reserves\u2019 minutes of the meeting that was released Wednesday showed the discussion by policymakers that underscore the importance of pushing interest rates up to keep high borrowing costs at bay.<\/span><\/p>\n
Fed Policy Changes Impact Bitcoin Price<\/strong><\/h2>\n
It\u2019s easy to spot how Bitcoin price gets affected with sudden changes in Fed policy and it has in fact been reduced by half ever since the Federal Reserves had their meeting regarding the strict enforcement of monetary policy that began in March.<\/span><\/p>\n
The prevailing market price which implicated expectations of lowered interest rates in 2023 and also pushed the Bitcoin price to $25,200, negates the propensity for the continuous rise in rates and limiting policies.<\/span><\/p>\n
Crypto analysts maintain that confidence in Bitcoin despite the weakening of the bulls. According to Micha\u00ebl van de Poppe, a reputable crypto analyst, says: \u201cCrucial to break $23.7K back. If a move to $24K occurs, a flip of $23.7K is trigger for longs. The trend remains upwards on higher timeframes. Still, expecting $28-30K in the next weeks.\u201d<\/span><\/p>\n
Today, Bitcoin price is down by 8.55% or currently trading at $21,523.94, according to CurrentMarketCap data.<\/span><\/p>\n
Related Reading: Avalanche Grinds To A Halt As AVAX Breaks 2-Month Uptrend<\/a><\/div>\n
<\/span><\/p>\n
BTC total market cap at $409 billion on the daily chart | Source: TradingView.com<\/a>\r\n\r\nFeatured image from Heather Cullen, Chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price (BTC) is grappling to maintain the level above $23,500. BTC trying to crawl above $23,500 on August 18 Bulls\u2019 aggression ebbing Immense selling pressure this week could invalidate the prevailing bearish price trend The king of crypto tries to keep the uptrend consistent which has peaked for over two months. Related Reading: Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone Bulls Losing Their Aggression? Judging by the daily chart, it\u2019s apparent that the bulls\u2019 aggression is fading out and will need to exhibit a revolutionary strength to keep the price at a high level that has been playing out positively for the past two months. Intensified selling pressure this week could counter the price trend that is seen to soar. The price of the pioneering digital asset had a massive level drop following the July\u2019s meeting of the Federal Reserve that ruined expectations of a more adaptive monetary policy in 2023. Chart from TradingView.com On August 17, Bitcoin price has plunged by roughly over 2% or a trembling drop below the positive trendline formed from the lows registered on July 15 and July 26; respectively. The Federal Reserves\u2019 minutes of the meeting that was released Wednesday showed the discussion by policymakers that underscore the importance of pushing interest rates up to keep high borrowing costs at bay. Fed Policy Changes Impact Bitcoin Price It\u2019s easy to spot how Bitcoin price gets affected with sudden changes in Fed policy and it has in fact been reduced by half ever since the Federal Reserves had their meeting regarding the strict enforcement of monetary policy that began in March. The prevailing market price which implicated expectations of lowered interest rates in 2023 and also pushed the Bitcoin price to $25,200, negates the propensity for the continuous rise in rates and limiting policies. Crypto analysts maintain that confidence in Bitcoin despite the weakening of the bulls. According to Micha\u00ebl van de Poppe, a reputable crypto analyst, says: \u201cCrucial to break $23.7K back. If a move to $24K occurs, a flip of $23.7K is trigger for longs. The trend remains upwards on higher timeframes. Still, expecting $28-30K in the next weeks.\u201d Today, Bitcoin price is down by 8.55% or currently trading at $21,523.94, according to CurrentMarketCap data. Related Reading: Avalanche Grinds To A Halt As AVAX Breaks 2-Month Uptrend BTC total market cap at $409 billion on the daily chart | Source: TradingView.com Featured image from Heather Cullen, Chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":499311,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1122,1144,65296,8686],"class_list":["post-499310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusd","tag-ethbtc","tag-ethusd"],"acf":[],"yoast_head":"\nBitcoin Price Short-Term Upswing In Peril As Bulls\u2019 Aggression Dies Down<\/title>\n<meta name=\"description\" content=\"Bitcoin price (BTC) is grappling to maintain the level above $23,500. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Short-Term Upswing In Peril As Bulls\u2019 Aggression Dies Down","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-short-term-upswing-in-peril\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-short-term-upswing-in-peril\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/Bitcoin-Price.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/Bitcoin-Price.png?fit=480%2C394"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btc price","btcusd","ethbtc","ethusd"],"dateCreated":"2022-08-19T16:02:57Z","datePublished":"2022-08-19T16:02:57Z","dateModified":"2022-08-19T16:02:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Short-Term Upswing In Peril As Bulls\\u2019 Aggression Dies Down\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-short-term-upswing-in-peril\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-short-term-upswing-in-peril\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Bitcoin-Price.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Bitcoin-Price.png?fit=480%2C394\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btc price\",\"btcusd\",\"ethbtc\",\"ethusd\"],\"dateCreated\":\"2022-08-19T16:02:57Z\",\"datePublished\":\"2022-08-19T16:02:57Z\",\"dateModified\":\"2022-08-19T16:02:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/Bitcoin-Price.png?fit=480%2C394","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/499310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=499310"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/499310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/499311"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=499310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=499310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=499310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}