• Bitcoin is performing well despite regulatory and market challenges.
• High-timeframe investors are leveraging pullbacks from the current price point as an opportunity.
• The FOMC’s decision to raise interest rates has challenged both crypto and stock markets.
Bitcoin Continues To Defy All Odds
Bitcoin is holding strong even with scrutiny from regulatory bodies and a volatile market. Investors believe that any pullbacks from the current price point offer a significant opportunity, which high-timeframe investors should leverage.
Rising Interest Rates Challenge Crypto and Stock Markets
The quarter-point interest rate rise by the Federal Open Market Committee (FOMC) in line with expectations presented a challenge for both the crypto and stock markets. Traders profited on a 20% gain over a seven-day rolling period, causing Bitcoin to slide under $27,000. BTC-tracked futures traders experienced over $150 million in losses, with longs accounting for over 75% of these losses.
How Can You Benefit?
With all moving averages angled upwards, strong momentum could push prices higher, though structural changes and upcoming airdrops could also play a role in influencing the market’s behavior. Meanwhile, traders can use the S&P 500 range between 0.75 and 0.5 levels to their advantage by monitoring its upper and lower limits closely for potential trades.
Impact of The Fed’s Decision
The FOMC decision reinforced the Federal Reserve’s commitment to returning inflation to its 2% objective. However, traders were caught offside by the move higher after the meeting, causing billions in open interest to be effectively washed out.
Conclusion
Overall, Bitcoin is still performing well despite facing challenges from regulatory bodies and a volatile market environment caused by rising interest rates impacting both crypto and stock markets simultaneously. High-timeframe investors should take note of this situation as any pullback offers an attractive buying opportunity going forward.