BlackRock’s ETHA Sees Daily ETH Net Flows of +$80.7m ————— 💰Coin: ETH ( $ETH ) $3,661.18 ————— NFA.
BlackRock IBIT Reports Daily Net BTC Flows of +356.6m ————— 💰Coin: BTC ( $BTC ) $100,602.70 ————— NFA.
Japan Bank Announces Interest Rate of 0.25% in Line with Expectations ————— NFA.
Binance Supports Dalarnia DAR Token Swap and Rebranding ————— 💰Coin: DAR ( $DAR ) $0.155 ————— NFA.
Selling activity has surged due to profit-taking by traders who bought during the dip.
BTC Surpasses $100,000 Once Again! ————— 💰Coin: BTC ( $BTC ) $100,032.00 ————— NFA.
The BoJ's cautious stance amid global uncertainties may delay economic adjustments, impacting Japan's inflation control and growth strategies. The post Bank of Japan keeps interest rates unchanged for third straight meeting appeared first on Crypto Briefing .
Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone. The price is trading below $104,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $102,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $98,000 support zone. Bitcoin Price Takes Hit Bitcoin price attempted more gains above the $108,000 resistance zone . However, BTC failed to continue higher and reacted to the downside below the $105,000 level. There was a clear move below the $102,500 support level. The price even dipped below $100,000. A low was formed at $98,728 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $102,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $104,000 and the 100 hourly Simple moving average . On the upside, the price could face resistance near the $100,500 level. It is close to the 23.6% Fib retracement level of the downward move from the $108,297 swing high to the $98,728 low. The first key resistance is near the $101,000 level and the trend line. A clear move above the $101,000 resistance might send the price higher. The next key resistance could be $102,250. A close above the $102,250 resistance might send the price further higher. In the stated case, the price could rise and test the $103,500 resistance level or the 50% Fib retracement level of the downward move from the $108,297 swing high to the $98,728 low. Any more gains might send the price toward the $106,000 level. More Downsides In BTC? If Bitcoin fails to rise above the $101,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,500 level. The first major support is near the $98,000 level. The next support is now near the $96,200 zone. Any more losses might send the price toward the $95,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $98,000, followed by $96,500. Major Resistance Levels – $101,000, and $102,000.
El Salvador’s recent loan agreement with the IMF highlights crucial changes in its Bitcoin strategy, emphasizing a shift toward regulated cryptocurrency use. After extensive negotiations lasting four years, this $1.4
The post Fed’s Anti-Bitcoin Stance Triggers Major Crypto Market Sell-off appeared first on Coinpedia Fintech News Today, December 19, 2024, the overall cryptocurrency market is experiencing notable losses, with major cryptocurrencies like Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and XRP seeing significant price declines over the past 24 hours. A potential reason for this drop is the recent Federal Reserve rate cut meeting. Reason Behind the Crypto Market Decline During the conference, the Federal Reserve announced an interest rate ceiling of 4.50%, aligning with expectations, compared to the previous rate of 4.75%. Jerome Powell made a bold statement on cryptocurrency that significantly impacted the overall market. In a statement, Powell noted that we are not allowed to own Bitcoin and have no desire to change the laws. This statement by the Fed chief shows that the U.S. central bank has no interest or intention to support a scenario where the government would accumulate a significant amount of Bitcoin. Regarding the legal issues surrounding Bitcoin ownership, Powell stated, “That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed.” The idea of creating a so-called “Strategic Bitcoin Reserve” appears to be failing, as the Federal Reserve has no intention of participating in such an initiative until President-elect Donald Trump takes office. This indicates that central banks are distancing themselves from holding large amounts of Bitcoin, unlike gold reserves. Federal Reserve’s Meeting Impacted Crypto Prices These statements by Powell have caused a significant downturn in the overall cryptocurrency market. Bitcoin (BTC), the world’s largest cryptocurrency, dropped by over 6.5%, falling below $100,000 after reaching the $108,000 mark. Meanwhile, other assets, including Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE), experienced price declines of 5.5%, 14.20%, 9.45%, and 11.5%, respectively. Additionally, this notable price decline in the crypto market occurred following Powell’s statement.