Is Bitcoin Headed For Further Pain After Repeatedly Falling Toward $20,000?
— Digital currency dropped, People pulling, 75 basis points, Ed note, Stocks, Analyst said .“, Next key level, Real reversal .” bitcoin ’, Federal funds rate places upward pressure, Crypto prophets declaring bitcoin — 1 min read
Bitcoin prices have repeatedly approached $20,000 and fell to some of their lowest values since late 2020. Bitcoin has encountered significant volatility lately, falling more than 70% from its all-time high. The Federal Open Market Committee issued a statement revealing that it was raising the target for the federal funds rate to between 1.5% and 1.75%. This development does not bode well for risk assets, since it puts upward pressure on broader interest rates, which in turn causes bonds to provide more compelling yields. Bitcoin's future outlook is murky due to variables like macroeconomic uncertainty and bitcoin’s high correlation with equities, experts said. Experts also highlighted key technical levels of resistance, highlighting $20k and $17,000. Source