To eagerly awaited reports and forecastsFrom the December 15th meeting of the Federal Reserve The entire crypto market is starting to rise. When drawing up its roadmap for 2022, the Fed announced that it would reduce its monthly bond purchases.
News that the Fed would use a shorter period of time to end bond purchases and hike rates sparked a rally that gave buyers a slight advantage as Bitcoin retook highs of $ 49,000.
Bitcoin Rises Above $ 49,000: Where’s the Next Stop?
Bitcoin For a few weeks now it has been in the middle of a short-term box structure in which buyers and sellers are fighting for the upper hand. For the past week, Bitcoin has largely traded below $ 47,000, with the asset occasionally falling as low as $ 45,000.
However Bitcoin began to form a slight bullish divergence on the CCI after the announcement. As a result, Bitcoin rose $ 49,000 in a short period of time, up 4% over the past 24 hours.
Although Bitcoin fell from an intraday high of $ 49,473, investors are raising hopes that Bitcoin will rise above the next resistance at $ 50,000. Bitcoin is currently trading at $ 48,685 with a market cap of $ 922.4 billion.
The charts support short-term sustained sideways movements. However, an outbreak cannot be ruled out.
Why should you care?
The Fed report shows how influential regulators can be in the marketplace. At the moment the market looks bullish, but Bitcoin still has a lot of momentum.