Crypto services provider Matrixport According to a report published by the company on September 18, Bitcoin $60,073The price of (BTC) may make sharp movements after the upcoming Fed interest rate decision. In the recent period, BitcoinAlthough the price of ‘s fluctuated within a falling channel formation and gave a short-term recovery signal, this upward momentum seems to have stalled. Investors, especially Fed The company is awaiting Chairman Jerome Powell’s statements on future interest rate decisions. Powell’s statements will play a critical role in determining the direction of not only Bitcoin but the rest of the cryptocurrency market.
Triangle Formation and Bearish Pressure
Bitcoin is currently a new triangle formationThe technical formation suggests that the largest cryptocurrency is in a further downtrend. Markets are focused on Powell’s speeches because the Fed’s monetary policy decisions and future forecasts will significantly affect risk assets like Bitcoin.
The increasing adoption of Bitcoin as an asset that reflects general economic trends is causing investors to follow developments on this side carefully.
In this respect, the latest analysis of Matrixport Fed interest rate decisionWhile underlining that the impact of the cryptocurrency market is high, it shows that investors should be careful.
Bitcoin as a Risk Asset and the Impact of Fed Rate Decision
Bitcoin has become an asset that is increasingly sensitive to macroeconomic developments in recent years. The Fed’s interest rate decision and Powell’s statements affect not only stock markets but also BTC and can directly impact the rest of the cryptocurrency market.
Therefore, the decision to be made at the Fed meeting and the statements to be made by Powell will be Bitcoin and altcoinIn particular, future interest rate decisions and guidance on economic growth will significantly shape the short-term price movements of Bitcoin and altcoins.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
