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COINTURK NEWS > Bitcoin (BTC) > Investors Brace for Bitcoin’s Volatile Journey Following Fed’s Decisions
Bitcoin (BTC)

Investors Brace for Bitcoin’s Volatile Journey Following Fed’s Decisions

In Brief

  • Bitcoin may face significant volatility after the Fed's upcoming interest rate decision.

  • Investors are keenly awaiting Chairman Powell's crucial statements.

  • The cryptocurrency market's direction could be heavily influenced by macroeconomic trends.

Ömer Ergin
Ömer Ergin 9 months ago
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According to a report published on September 18 by the cryptocurrency service provider Matrixport, Bitcoin’s (BTC) price may experience significant movements following the upcoming Federal Reserve interest rate decision. Recently, Bitcoin’s price has fluctuated within a descending channel formation and, although it showed brief signs of recovery, this upward momentum appears to have stalled. Investors are particularly awaiting statements from Fed Chairman Jerome Powell regarding future interest rate decisions. Powell’s remarks will play a critical role in determining the direction of not only Bitcoin $107,424 but also the broader cryptocurrency market.

Contents
Triangle Formation and Downward PressureBitcoin as a Risky Asset and the Impact of Fed’s Interest Rate Decision

Triangle Formation and Downward Pressure

Bitcoin is currently under downward pressure due to the formation of a new triangle pattern. This technical formation indicates that the largest cryptocurrency may be trending toward further declines. Markets are focused on Powell’s speeches, as the decisions and forecasts concerning the Fed’s monetary policy will significantly influence risky assets like Bitcoin.

The increasing adoption of Bitcoin as a reflection of overall economic trends has prompted investors to closely monitor developments in this area.

In this context, Matrixport’s recent analysis emphasizes the high impact of the Fed’s interest rate decision on the cryptocurrency market, indicating that investors should proceed with caution.

Bitcoin as a Risky Asset and the Impact of Fed’s Interest Rate Decision

In recent years, Bitcoin has become a highly sensitive asset to macroeconomic developments. The Fed’s interest rate decisions and Powell’s statements can directly affect both stock markets and the broader cryptocurrency market, including BTC.

Therefore, the decisions emerging from the Fed meeting and Powell’s forthcoming statements could lead to sharp and significant fluctuations in Bitcoin and altcoins. Particularly, guidance on future interest rate decisions and economic growth will notably shape short-term price movements of Bitcoin and altcoins.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 18 September, 2024 - 1:06 pm 18 September, 2024 - 1:06 pm
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