• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

Bitcoin Rebounds, But Don’t Be Fooled

Sep 21, 2022

Bitcoin Rebounds, But Don’t Be Fooled

Bitcoin and other cryptocurrencies were recovering following a big selloff on Monday, but analysts warned the outlook for digital assets is becoming bleaker, with more volatility predicted in the run-up to the Federal Reserve's important decision on Wednesday.

Bitcoin's price has risen 4% in the last 24 hours to $19,250. In the midst of Monday's fall, the biggest cryptocurrency fell below $18,500, approaching it's yearlong low and pushing the token well outside of the $20,000 to $25,000 zone in which it has generally traded since mid-June. While Bitcoin rose on Tuesday, it remained below the critical $20,000 price level.

"Another volatile session for Bitcoin at the start of the week, with it approaching its June bottom before rebounding with other risk assets," said Craig Erlam, an analyst at broker Oanda. "While this may provide some respite in the near term, it may also cause some concern because a break of that low might send it spiraling down once more."

The Federal Reserve's monetary policy decision on Wednesday looms significant. For the third time since June, the central bank is largely expected to raise interest rates by 75 basis points, or three-quarters of a percentage point. These are the largest rate increases since 1994.

Faced with the worst inflation in four decades, the Fed has undertaken a bold move to tighten financial conditions in 2022, depressing demand for riskier bets such as Bitcoin and equities and increasing the chance of a recession. While Bitcoin should trade independently of mainstream finance in principle, these macro factors have worsened a selloff this year that has affected both cryptos and stock indexes such as the Dow Jones Industrial Average and the S&P 500.

"It's not a good climate for risk assets, and central banks might deal another blow this week," said Erlam of Oanda. Markets have not fully priced in the likelihood of a massive 100-basis-point rate rise, and the danger of a larger-than-expected hike or a more hawkish move from the Fed is dragging on both cryptos and equities.

From a technological standpoint, the situation is likewise becoming gloomier.

"Short-term momentum has swung negative... heightening risk as long-term support at $18,300 to $19,500 is tested," said Katie Stockton, managing partner at Fairlead Strategies. "Two consecutive weekly closes below about $18,300 would signal the end of a bearish trend, adding downside risk to secondary support under $13,900."

"Long-term negative momentum is increasing," Stockton noted. "As things stand, a substantial adjustment may take months."

Aside from Bitcoin, Ether, the second-largest digital asset, rose 4% to $1,350. Smaller cryptos or altcoins performed similarly, with Solana up 3% and Cardano up 2%. Memecoins were higher, with Dogecoin climbing 3% and Shiba Inu rising 2%.

Subscribe Our Newsletter

Fed Chairman Powell Signals a Slowdown in Rate Hikes, Sending Stocks Soaring

Alexander

Fed Chairman Powell Signals a Slowdown in Rate Hikes, Sending Stocks Soaring

Speaking before a crucial Federal Reserve meeting, Fed chair Jerome Powell indicated rate increases may be moderated as soon as December.

Banks and Finance
Expert Opinion: Bitcoin and Other Cryptos Soar. There Are Big Hopes for Biden’s Executive Order.
Expert Opinion: Bitcoin and Other Cryptos Soar. There Are Big Hopes for Biden’s Executive Order.

Bitcoin, the most popular cryptocurrency, went up 9% in the last 24 hours to nearly $42,000, according to CoinDesk statistics. Ether, a smaller rival, also increased substantially, jumping 7% to $2,750.

Crypto
Oliver

Top 5 Best Crypto Payment Gateways For 2022
The popularity of cryptocurrency is on the rise as more and more individuals begin to invest in virtual currencies. This market is highly popular due to its youth and incredible potential for early adopters. Additionally, as more people show interest in cryptocurrency investments, the need for exchanges and various crypto services like crypto payment gateways is only growing.

discover
What is the Liquidity Lockup Time in Crypto?

Oliver

What is the Liquidity Lockup Time in Crypto?

Among the most important aspects of cryptocurrency is the concept of liquidity. It is generally accepted that a liquid asset is one that is easily exchangeable for cash and that does not affect its market value in the process.

Liquidity

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Alexander

    Full Bitcoin Price History: From 2009 to 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-11-300x203.png

    Constantine

    Top 5 Most Reliable KYC Technology Providers

    https://liquidity-provider.com/app/uploads/2023/01/cover-10-300x203.png

    Alexander

    The Best Crypto Wallets of 2022: Top 5 Picks

    https://liquidity-provider.com/app/uploads/2023/01/cover-2-300x203.png

    Alexander

    Top 5 Most Reliable Forex Brokers of 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-1-300x203.png

    Constantine

    5 Top-Tier Breakthrough Trading, Crypto and Fintech Industries Software Solutions in 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-300x203.png

    Constantine

    5 Most Successful FinTech Industry Startups in 2022

    https://liquidity-provider.com/app/uploads/2022/12/cover-300x203.png

    Constantine

    Top 7 Liquidity Providers of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-3-300x203.png

    Alexander

    Top 5 Crypto Exchanges of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-1-300x203.png

    Constantine

    Top 5 Most Distinguished White Label Solutions in 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-2-300x203.png

    Constantine

    What is Crypto Leverage Trading And How Does It Work?

    https://liquidity-provider.com/app/uploads/2022/12/oblozhka-5-300x203.png

    Constantine

    Top 5 Most Prospective Tokens in the Metaverse.

    https://liquidity-provider.com/app/uploads/2022/12/cover-7-300x203.png

    Constantine

    How to Mine Bitcoins? – Beginners Guide

    https://liquidity-provider.com/app/uploads/2022/11/cover-5-300x203.png

    Oliver

    Blockchain for Business. Pros & Cons

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-1-300x203.png

    Constantine

    The Future of Stablecoins and Central Bank Digital Currencies (CBDCs)

    https://liquidity-provider.com/app/uploads/2022/11/cover-3-300x203.png

    Alexander

    What is Web 3.0 and Why Does it Matter?

    https://liquidity-provider.com/app/uploads/2022/11/cover-1-300x203.png

    Constantine

    5 Benefits of Accepting Crypto Payments for Your Business

    https://liquidity-provider.com/app/uploads/2022/11/cover-300x203.png

    Constantine

    Hot Wallet vs Cold Wallet: Which Do I Need More for Crypto?

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-5-300x203.png

    Alexander

    What is Hedging and How Does it Work in Trading? — Ultimate Guide

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-4-300x203.png

    Oliver

    Pre-execution vs Post-execution: What’s the Difference?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-1-300x203.png

    Constantine

    What is Slippage in Trading? – Definition

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-1-300x203.png

    Oliver

    How Forex Brokers Make Money? – A-Book vs. B-Book Model

    https://liquidity-provider.com/app/uploads/2022/10/shapka-2-300x203.png

    Oliver

    What is the Ethereum Merge, And How Will it Change Ethereum?

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-300x203.png

    Alexander

    How to Spot Cryptocurrency Scams

    https://liquidity-provider.com/app/uploads/2022/10/shapka-300x203.png

    Milena

    Exploring the Metaverse: What Does It Mean for the Future of the Internet?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-300x203.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy