Crypto NewsBitcoinWill FED's Decision Trigger New Rally? $36,000 Signal for Bitcoin from Matrixport!

Will FED's Decision Trigger New Rally? $36,000 Signal for Bitcoin from Matrixport!

Expectations for May rose as Bitcoin regained $29,000.

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After the 25 basis point interest rate hike yesterday, the FED changed the text and removed the statements regarding "continuing interest rate hikes" from the text.

Although Powell interpreted this change in the text as a meaningful change, he stated that they have not decided to pause yet and they will continue to make decisions according to the data.

After Powell's statements and the interest rate decision, Bitcoin regained $ 29,000, while expectations for May rose.


Kripto para hizmet sağlayıcısı Matrixport, bugün yayınladığı bir araştırma raporunda Bitcoin’in %20’lik bir yükselişle 35.000$-$36,000 seviyelerine yükselebileceğini belirtti.

In the report, it was stated that the Fed's latest rate hike decision may prepare the market for another strong rally.

In addition, it was stated that technically it is a bullish signal:

“Bitcoin is trading in a narrowing wedge that is about to break upwards. If this pattern works, there could be a 20% increase to the upside.

As the Fed increased interest rates by 25 basis points, the probability that this was the last rate hike increased. This may prepare the market for another rally."

Bitcoin Looks Strong as Crypto Sentiment Rises

Markus Thielen, head of research, noted that the Q1 earnings period is over and stock buybacks will begin again, adding:

“The balance sheet period is over. Stock purchases are starting again. This is positive for stocks and risky assets.

Although Bitcoin trading volumes have decreased recently, we see that the selling pressure on the resistances is also limited.

While the number of active addresses on the Bitcoin network is close to 1 million and remains strong, transactions on the Bitcoin network have reached an all-time high.

The heavy trading of meme cryptocurrencies has improved crypto sentiment.”

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