Bitcoin and Ethereum hold support levels after US Fed signals slowdown in rate hikes

Bitcoin and Ethereum ended two-day rallies as both coins fell slightly, although prices held at crucial support levels following indications the US Federal Reserve will soon slow down the pace of interest rate rises. Bitcoin, the largest coin by market cap, fell 1.5% to US$16,443.

Timeline of Bitcoin, Ethereum

 Bitcoin has continuously dropped over the last couple of weeks, largely due to the FTX crash Institutional investors like the Purpose Bitcoin ETF Holdings have not yet bought back despite the discount. The latest Bitcoin (BTC) crash has done more harm than good to investors' sentiment.

The crypto markets have turned extremely volatile and uncertain ever since the popular exchange FTX collapsed and created a ripple of fallouts. Meanwhile, Bitcoin and popular altcoins attempted to begin with a recovery phase, but the bears perceived the fact of their growing dominance despite minor bounces.

On November 25, Bitcoin, the leading cryptocurrency, failed to break above the $16,800 level and began to fall toward the 38.2% Fibonacci retracement level. Similarly, Ethereum, the second most valuable cryptocurrency, has followed Bitcoin's lead and is currently trading bearishly toward $1,160.

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A popular cryptocurrency analyst has pointed out that Ethereum ($ETH), the second-largest cryptocurrency by market capitalization, must hold above a key price level before its price can potentially move over the $1,500 mark.

Belgium's take on what conditions must be met in order for a crypto asset to be classed as a security are in contrast to the views of U.S. Securities Exchange Commission Chairman Gary Gensler.

A popular cryptocurrency analyst has predicted a “massive bull run” is set to be seen in the near future after the flagship cryptocurrency Bitcoin ($BTC) formed a bottom pattern that was last seen back in 2015.

A popular crypto analyst who accurately predicted Bitcoin's (BTC) crash in May 2022 is forecasting what's next for BTC and the crypto markets. Pseudonymous crypto trader Capo details to his 676,000 Twitter followers what could happen to the crypto markets during both higher and lower time frames.

A widely followed crypto analyst says that altcoins should begin to skyrocket as soon as next year. The pseudonymous trader known as TechDev tells his 401,100 Twitter followers that altcoins look primed to spark a massive rally going into next year despite recent negative expectations and narratives centered around the crypto industry.