{"id":523994,"date":"2023-03-21T18:17:55","date_gmt":"2023-03-21T18:17:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=523994"},"modified":"2024-06-11T09:19:27","modified_gmt":"2024-06-11T09:19:27","slug":"fomc-decision-will-push-bitcoin-up-or-down-the-30000-question","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/fomc-decision-will-push-bitcoin-up-or-down-the-30000-question\/","title":{"rendered":"FOMC Decision Will Push Bitcoin Up Or Down? The $30,000 Question"},"content":{"rendered":"<p><span style=\"font-weight: 400\">As the next Federal Open Market Committee (FOMC) meeting approaches on March 22, Bitcoin (BTC) trades at $28,000, just below its nearest resistance level. The cryptocurrency is consolidating at a critical zone, indicating the potential for continuing its current trend or a possible pullback to $25,000. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Tomorrow<\/span>\u2019s FOMC is priced at an 80% chance of an interest rate hike of 25 basis points (bps). According to a recent <a href=\"https:\/\/twitter.com\/QCPCapital\/status\/68956676?s=20\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a> by the crypto-trading firm QCP Capital, the consensus has shifted to what analysts suggested last week of no hike decision by the FOMC or a surprise cut.<\/p>\n<p>In the latter scenario, QCP Capital believes a rate cut may cause more market panic and lead to a decline in the global financial sector. <span style=\"font-weight: 400\">This may seem counterintuitive, as lower interest rates are generally favorable for the markets and can stimulate borrowing and investment. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, a decision not to hike rates or to cut them unexpectedly could signal to investors that the Federal Reserve (Fed) is concerned about the state of the economy and may be anticipating a downturn, causing investors to sell off their investments, leading to a decline in the crypto market and the delay of the next bull cycle for Bitcoin.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/can-ethereum-fall-below-1500-here-are-factors-that-could-drive-it\/\" target=\"_blank\" rel=\"noopener \">Can Ethereum Fall Below $1,500? Here Are Factors That Could Drive It<\/a><\/div>\n<h2><b>Crucial Turning Point For Bitcoin <\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<p>QCP Capital sees the next FOMC meeting as a critical point for the markets that could significantly impact the price action of the cryptocurrency industry and the Nasdaq index, which tracks tech companies.<\/p>\n<p><span style=\"font-weight: 400\">According to the trading firm, the recent rally in Bitcoin&#8217;s price has been due in part to the large injection of liquidity into the markets by the Federal Reserve, which has helped to boost prices. However, the firm believes that the &#8220;lack of resolve&#8221; among Fed policymakers is an even more important factor driving the current rally.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Suppose the Federal Reserve were to adjust its monetary policy to align with market expectations. In that case, it could result in more gains in equities and the cryptocurrency market, enabling Bitcoin to continue its uptrend and surpass the $30,000 mark, which will significantly confirm the bull market cycle.\u00a0<\/span><\/p>\n<h3><b>Weekly Breakout Confirmed For BTC<\/b><\/h3>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/twitter.com\/crypto_birb\/status\/48863489?s=20\" target=\"_blank\" rel=\"noopener nofollow\">According<\/a> to Adrian Zdunczyk, a Technical crypto analyst, Bitcoin has signaled a bullish long-term pattern, confirming a weekly breakout for the most prominent cryptocurrency in the market, suggesting Bitcoin&#8217;s price is likely to continue rising over the long term. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This trend could allow BTC to reclaim the 200-day mean average, used to forecast long-term trends, which has preceded powerful rallies for the crypto from cycle lows.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Zdunczyk, reclaiming the 50-week and 200-week moving averages could hint that the current trend is a strong bullish signal, indicating a high probability of further price increases in the near term. Breaking through these resistance levels suggests that bulls have taken control of the market, increasing Bitcoin&#8217;s price, potentially up to the $30,000 mark.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For the analyst, Bitcoin&#8217;s price will create a range between $25,800 and $28,700, based on the average volatility of the crypto price movement. This suggests the price will likely stay within this range based on historical patterns. Any \u201cviolent&#8221; break\u201d outside of this price range could result in a trend reversal or continuation, according to Adrian Zdunczyk.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As Bitcoin approaches the $30,000 level, the upcoming FOMC meeting could increase volatility in the market. However, the new bull trend appears to be confirmed after an 82% rally from the cycle low, surpassing the next resistance level. This could represent the end of the crypto winter, despite the possibility of future corrections in the BTC price.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-whales-buying-spree-shib-conquer-this-price\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Whales On Buying Spree, But SHIB Needs To Conquer This Price<\/a><\/div>\n<div><\/div>\n<figure id=\"attachment_523996\" aria-describedby=\"caption-attachment-523996\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-523996 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/BTCUSDT_2023-03-21_13-01-46_3cd21.png?resize=860%2C407\" alt=\"Bitcoin \" width=\"860\" height=\"407\"><figcaption id=\"caption-attachment-523996\" class=\"wp-caption-text\">BTC continues its uptrend on the 1-day chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7EqogTce\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Bitcoin is trading at $28,200, gaining a profit of 1.8% in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Feature image from Unsplash, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the next Federal Open Market Committee (FOMC) meeting approaches on March 22, Bitcoin (BTC) trades at $28,000, just below its nearest resistance level. The cryptocurrency is consolidating at a critical zone, indicating the potential for continuing its current trend or a possible pullback to $25,000. Tomorrow\u2019s FOMC is priced at an 80% chance of an interest rate hike of 25 basis points (bps). According to a recent post by the crypto-trading firm QCP Capital, the consensus has shifted to what analysts suggested last week of no hike decision by the FOMC or a surprise cut. In the latter scenario, QCP Capital believes a rate cut may cause more market panic and lead to a decline in the global financial sector. This may seem counterintuitive, as lower interest rates are generally favorable for the markets and can stimulate borrowing and investment. However, a decision not to hike rates or to cut them unexpectedly could signal to investors that the Federal Reserve (Fed) is concerned about the state of the economy and may be anticipating a downturn, causing investors to sell off their investments, leading to a decline in the crypto market and the delay of the next bull cycle for Bitcoin. Related Reading: Can Ethereum Fall Below $1,500? Here Are Factors That Could Drive It Crucial Turning Point For Bitcoin \u00a0 QCP Capital sees the next FOMC meeting as a critical point for the markets that could significantly impact the price action of the cryptocurrency industry and the Nasdaq index, which tracks tech companies. According to the trading firm, the recent rally in Bitcoin&#8217;s price has been due in part to the large injection of liquidity into the markets by the Federal Reserve, which has helped to boost prices. However, the firm believes that the &#8220;lack of resolve&#8221; among Fed policymakers is an even more important factor driving the current rally. Suppose the Federal Reserve were to adjust its monetary policy to align with market expectations. In that case, it could result in more gains in equities and the cryptocurrency market, enabling Bitcoin to continue its uptrend and surpass the $30,000 mark, which will significantly confirm the bull market cycle.\u00a0 Weekly Breakout Confirmed For BTC According to Adrian Zdunczyk, a Technical crypto analyst, Bitcoin has signaled a bullish long-term pattern, confirming a weekly breakout for the most prominent cryptocurrency in the market, suggesting Bitcoin&#8217;s price is likely to continue rising over the long term. This trend could allow BTC to reclaim the 200-day mean average, used to forecast long-term trends, which has preceded powerful rallies for the crypto from cycle lows.\u00a0 According to Zdunczyk, reclaiming the 50-week and 200-week moving averages could hint that the current trend is a strong bullish signal, indicating a high probability of further price increases in the near term. Breaking through these resistance levels suggests that bulls have taken control of the market, increasing Bitcoin&#8217;s price, potentially up to the $30,000 mark. For the analyst, Bitcoin&#8217;s price will create a range between $25,800 and $28,700, based on the average volatility of the crypto price movement. This suggests the price will likely stay within this range based on historical patterns. Any \u201cviolent&#8221; break\u201d outside of this price range could result in a trend reversal or continuation, according to Adrian Zdunczyk.\u00a0 As Bitcoin approaches the $30,000 level, the upcoming FOMC meeting could increase volatility in the market. However, the new bull trend appears to be confirmed after an 82% rally from the cycle low, surpassing the next resistance level. This could represent the end of the crypto winter, despite the possibility of future corrections in the BTC price. Related Reading: Shiba Inu Whales On Buying Spree, But SHIB Needs To Conquer This Price Bitcoin is trading at $28,200, gaining a profit of 1.8% in the last 24 hours. Feature image from Unsplash, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":523997,"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":[428,679,78790,6664,1558],"class_list":["post-523994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusdt","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>FOMC Decision Will Push Bitcoin Up Or Down? 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. 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