Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger

[ad_1] Bitcoin (BTC) upped the volatility into the weekly close on March 13 as markets braced for geopolitical and macro economic cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Long-awaited Fed action set to come this week Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it again came close to testing $38,000 support during Sunday. The pair had seen a quiet end to the week on Wall Street, the weekend proving similarly calm as the status quo both within and outside crypto continued without surprises. Now, attention was already…

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Bitcoin ‘whales’ and ‘fishes’ pause accumulation as markets weigh March 50bps hike odds

[ad_1] An uptick in Bitcoin (BTC) supply to whales’ addresses witnessed across January appears to be stalling midway as the price continues its intraday correction toward $42,000, the latest data from CoinMetrics shows. Whales, fishes take a break from Bitcoin The sum of Bitcoin being held in addresses whose balance was at least 1,000 BTC came to be 8.10 million BTC as of Feb. 16, almost 0.12% higher month-to-date. In comparison, the balance was 7.91 million BTC at the beginning of this year, up 2.4% year-to-date. Bitcoin supply in addresses with…

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Crypto investors hedging out risks ahead of March rate hike

[ad_1] On-chain data analysis from Glassnode shows that Bitcoin investors are hedging out risks in order to stay protected against Federal Reserve interest rate hikes in March. Glassnode’s The Week On-Chain newsletter from Feb. 14 indicates that the most significant trend in Bitcoin (BTC) right now is the flat futures term structure through March. This is strongly attributed to “investor uncertainty regarding the wider economic impact of a tighter US dollar.” The rate hike is already priced in to spot markets, according to Cointelegraph contributor Michaël van de Poppe, but…

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Precious Metals, Cryptocurrencies, Stock Markets Falter Following Powell’s Rate Hike Statements – Economics Bitcoin News

[ad_1] Equities, crypto markets, and precious metals did well during the early morning trading sessions on Wednesday, just before the U.S. central bank wrapped up its Federal Open Market Committee (FOMC) meeting. While the Fed said in a statement that the benchmark interest rate would rise soon, the central bank’s lead Jerome Powell said the committee “is of a mind to raise the federal funds rate at the March meeting.” Powell’s statements following the meeting, alongside discussions of reducing the balance sheet, were viewed as hawkish among investors and global…

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