Bitcoin Bullish Fundamentals Wanes Ahead Of FOMC; Wall Street Estimates

Bitcoin price holds above $28,000 as traders speculate whether more upside momentum still exists. Investors are awaiting the crucial rate hike decision by the U.S. Federal Reserve after the FOMC meeting on Wednesday amid the banking crisis in the U.S. The CME FedWatch Tool indicates there's an 18.1% probability of no rate hike by the The post Bitcoin Bullish Fundamentals Wanes Ahead Of FOMC; Wall Street Estimates appeared first on CoinGape.

Timeline of Bitcoin

As the cryptocurrency market has slowed down its climb over the past few weeks, which has seen Bitcoin's price breach the psychological level of $28,000, the flagship cryptocurrency is painting more bullishness in the future as it seems to be breaking the macro downtrend. The market appears to be pricing in a modest 25 basis The post Bitcoin Price To Defy FOMC Meet Outcome?

The price of XRP suddenly jumped 10% to outperform the top 10 cryptocurrencies by market capitalization. XRP is outperforming Bitcoin and Ethereum in daily gains, as these are up 0.62% and 2.87%, respectively.

Twitter user @anilsaidso has shared a screenshot of a statement made by the mysterious Bitcoin creator known as Satoshi Nakamoto. It is about the main issue with banks and conventional currencies.

Max Keiser, a pro-Bitcoin advocate and crypto podcaster, continues to stick to his $220,000 Bitcoin price prediction. The Bitcoin proponent has mentioned such a forecast several times in the past year and now this year.

Bitcoin rallied tremendously last week coming off the back of the devastating new of the Silicon Valley Bank collapse, among others. This saw the digital asset rise to a nine-month high above $28,000 before correcting back downward.

Bitcoin price has reached a crucial resistance level of around $28k as traders await tomorrow's Federal interest rates. With over $126 million liquidated in the past 24 hours, Bitcoin's volatility is expected to increase before and after the FOMC statement.

With the United States banking crisis claiming several casualties, the situation's impact has spread over to the general sector, taking a toll on investor sentiment. Consequently, with investors looking for alternatives, Bitcoin (BTC) appears to be the winner of the crisis, with the maiden cryptocurrency attracting significant capital inflow dwarfing the traditional financial players.

As Bitcoin (BTC) consolidates above the $28,000 price level, Swan Bitcoin CEO has voiced a bold statement, claiming that the leading cryptocurrency is not only the best asset but also serves as a call option on all future crypto technology. According to data from TradingView, on crypto exchange Bitstamp, currently (as of 12:29 p.m.

Bitcoin consolidated recent gains on March 21, as markets await the upcoming Federal Open Market Committee (FOMC) meeting. Many expect that the Federal Reserve will maintain rate hikes, however at a slower pace of 25 basis points. This comes after the U.S.

BTC Price Prediction: The ongoing recovery rally in Bitcoin price has taken a halt at $28000 psychological resistance. Moreover, the daily chart showcasing rejection candles at the aforementioned resistance suggests the bullish momentum is getting exhausted.