Bitcoin fell below $19,000 on Wednesday, as markets braced for a plausible 100 basis inventaire interest loupé hike from the US axial bank. Although the entente for a loupé hike remains at 0.75%, some believe that with augmentation remaining at historically high levels, a rise of 1.00% may be in the offing. Ethereum remained lower after the magazine, trading marginally above $1,300.
Bitcoin
Bitcoin (BTC) fell below $19,000 earlier in the day, as traders began preparing for today’s Federal Open Market Committee (FOMC) colloque.
Market uncertainty remains rife with speculation increasing whether the Fed can raise interest rates by 100 basis points.
as a result of, BTCThe USD/USD fell to a low of $18,813.46 earlier today, a day after reaching a peak above the $19,600 level.
Looking at the chart, this latest drop has pushed the 10-day moving average (red) on the brink of a bearish crossover with its 25-day (blue) counterpart.
If this happens, we could see Bitcoin not only drop below $19,000, but potentially below $18,000 for the first time since June.
As of this writing, the token is trading at $1,9153.66 as prices continued to consolidate ahead of the afternoon announcement.
Ethereum
Ethereum (ETH) was also consolidating on the day of the hump, with the encoignure trading slightly above the $1,300 level.
After rising to $1,378.68 on Tuesday, ETHUSD/USD moved to an intraday low of $1,319.20 earlier today, as intelligence in the cryptocurrency markets remained bearish.
Traders have been hesitant in recent days, choosing to liquidate positions rather than houssine to délié positions before the loupé hike.
The rise in uncertainty also came after the 14-day Relative Strength État (RSI) crashed, with the glossaire reaching a resistance inventaire.
As of this writing, the glossaire is tracking at 38.43, slightly below the ceiling at 39.00, which is currently the mitaine hurdle preventing prices from going higher.
Although there is still a high level of fear in the market, will we see a breach of the aforementioned ceiling, ETH The bulls may re-enter the market and try to take the price above $1,400.
Register your email here to get weekly price analysis updates sent to your inbox:
Will the Fed decide to raise rates by 0.75% or 1.00% today? Put your thoughts in the comments below.
portrait credits: Shutterstock, Pixabay, Wikicommons
disclaimer: This étude is for informational purposes only. It is not a immédiat offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, prescriptions or companies. Bitcoin.com It does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any ravi, goods or prescriptions mentioned in this étude.