Fun

News Feed - 2023-09-21 07:09:46

William Suberg13 hours agoWhat volatility? Bitcoin price dismisses FOMC, Mt. Gox with $26.7K dipBitcoin traders get none of the volatility they hoped for, and BTC price slowly drifts back to intraday lows.2587 Total views7 Total sharesListen to article 0:00Market UpdateJoin us on social networksBitcoin (BTC) slipped from $27,000 on Sept. 21 as the dust settled on the latest United States macroeconomic events.BTC/USD 1-hour chart. Source: TradingViewBitcoin: “Rangebound until proven otherwise”


Data from Cointelegraph Markets Pro and TradingView showed BTC price strength waning prior to the Wall Street opening, down by around 1.5% on the day.


Bitcoin had delivered a cool reaction to the Federal Reserve’s interest rate pause, and Chair Jerome Powell’s speech and press conference likewise failed to spark major volatility.


Contrary to the expectations of many, BTC price action acted as if no catalysts were present at all. Later, news that payouts to creditors of defunct exchange Mt. Gox had been delayed by another year also went unnoticed by markets.


“The Fed’s announcement of a rate pause caught exactly no-one by surprise,” popular trader Jelle summarized to X (formerly Twitter) subscribers.“Price is still in the same spot, but at least now we don’t have FOMC hanging over our heads. Rangebound until proven otherwise.”BTC/USD annotated chart. Source: Jelle/X


Jelle’s underlying longer-term roadmap remained bullish, suggesting an exit higher from the current structure, in play for more than a year, was still possible.#Bitcoin is forming a massive cup & handle pattern below $30k.

Some argue it's not a valid pattern, while others anticipate a big breakout.

I expect higher prices. What do you think? pic.twitter.com/LIkKZTXBUB— Jelle (@CryptoJelleNL) September 21, 2023


Continuing, fellow trader Crypto Tony reiterated the importance of maintaining $26,800 into the weekly close.


“So my plan was to long while we remained above $26,800 and thus far that is what we are doing,” he commented on the day.“Certainly came down a bit so up to the bulls now to end this week on a bullish high.”BTC/USD annotated chart. Source: Crypto Tony/XBTC monthly close focus sharpens


Covering the impetus for the post-Fed drop, trader Crypto Ed suggested that the prior tap of month-to-date highs could be a cause for suspicion.


Related: Bitcoin all-time high in 2025? BTC price idea reveals ‘bull run launch’#BTC

In my recent updates, I shared my feeling that "something" was off with that recent rise to $27,5k

Spot (white) offloading here is maybe a warning........ pic.twitter.com/oabzVKuOvx— Ed_NL (@Crypto_Ed_NL) September 21, 2023


On longer timeframes, trader and analyst was also conservative, preserving his existing theory of BTC price downside to come.#BTC

Bitcoin Bearish Fractal Update$BTC #Crypto #Bitcoin https://t.co/4H3OMiDzFB pic.twitter.com/Gn3iH75DFw— Rekt Capital (@rektcapital) September 21, 2023


On the monthly chart, he added, support at $27,150 had flipped to resistance.


“The BTC Monthly level of ~27150 was lost as support last month,” part of his commentary from the past 24 hours read.“Now $BTC is rejecting from the same level ~$27150 is acting as resistance for the time being.”BTC/USD annotated chart. Source: Rekt Capital/X


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Bitcoin Price# MarketsAdd reactionAdd reactionRead moreHow to send and receive payments on the Lightning NetworkSky-high interest rates are exactly what the crypto market needsBitcoin futures open interest jumps by $1B: Manipulation or hedge?

News Feed

FTX creditors only getting '10-25% of their crypto back' — creditor
Vince Quill5 hours agoFTX creditors only getting "10-25% of their crypto back" — creditorFollowing the collapse of the FTX exchange, the FTT token collapsed by more than 80% and wiped away over $2 billion in customer v
When Will Altcoin Season Begin After Bitcoin Price Hit ATH Above $111,000?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
X faces controversy over using user data for training AI chatbot Grok: Report
Ciaran Lyons1 hour agoX faces controversy over using user data for training AI chatbot Grok: ReportSeveral X accounts have made comments on the social media platform"s default setting that allows user"s data "to tra
Gold Sees Largest Weekly Outflow Ever, Metal Prices Spiral Lower, Analysts Expect Flows Into Bitcoin
Gold Sees Largest Weekly Outflow Ever, Metal Prices Spiral Lower, Analysts Expect Flows Into Bitcoin Gold investors are getting anxious, as the precious metal&rs
Nigerian crypto community split over govt’s bid for Binance user data
Amaka Nwaokocha13 hours agoNigerian crypto community split over govt’s bid for Binance user dataChukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surpri
Tom Mitchelhill8 hours agoCrypto miner Hive Digital CEO sees AI working in unison with blockchainDespite the competition between the two sectors, Hive Digital Technologies CEO Aydin Kilic said that blockchain and AI can
Defi Platform Cream Finance Hacked, $29 Million Lost
Defi Platform Cream Finance Hacked, $29 Million Lost Cream finance, a defi borrowing and lending protocol, has been the victim of a hack that erased more than $29 million from its
Brayden Lindrea5 hours agoStablecoin dominance slides as market cap falls to near 2-year lows: CCDataAfter 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market
Report: Nigerian Securities and Exchange Commission Sets Up Fintech Division for Crypto Research
Report: Nigerian Securities and Exchange Commission Sets Up Fintech Division for Crypto Research Nigeria’s securities regulator, the Nigerian Securities and Exchange Commiss
Derek Andersen5 hours agoFed governor Bowman doubles down on CBDC skepticism, likes stablecoin no betterMichelle Bowman told a university audience that financial innovation should be justified by need and be properly reg
Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for Permits
Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for Permits The National Bank of the Kyrgyz Re
A ‘simple’ hard fork could subvert a quantum attack on Ethereum: Vitalik Buterin
Tom Mitchelhill6 hours agoA ‘simple’ hard fork could subvert a quantum attack on Ethereum: Vitalik ButerinThe technology required to make Ethereum immune from a quantum attack could be developed starting “tomorrow,