Bitcoin jumped to the $41k mark:
As risk assets rebounded worldwide, it brought Bitcoin out of its trading range as it peeked above $41k for the very first time in a week. Bitcoin jumped to $41,691 before paring its gains in the early New York trading. The other tokens like Solana and Ether also saw a jump. With the Chinese equities rallying on a solemn promise by their capital Beijing, for policies to help increase the financial markets.
Marcus feels that whenever there is a stock market relief the crypto rises:
Marcus Sotiriou, an analyst at London-based digital asset broker GlobalBlock, said that whenever there is a stock market relief, crypto performs well. At the end of the day, he expects a struggle for a sustainable increase in prices, as the driving force behind prices is macro. Betacular Trade
Bitcoin will mostly stay between $30k and $50k:
A steady increase is highly unlikely as the Federal Reserve tightens through the year. And Bitcoin will most probably stay between thirty thousand dollars to fifty thousand dollars given the fact that the interest rates are rising. In the past few days Bitcoin was mired in the tightest trading range, from October 2020, an event the market watchers attribute to holders (long term), by stepping in to purchase whenever the token value dips. And when short-term investors sell, Bitcoin and the other digital assets are prevented from mounting (sustainable) gains.
The Federal Open Market Committee is almost sure to increase its rates by a quarter percentage:
The Federal Reserve is all set to raise the interest rates on Wednesday, for the very first time since the year 2018. And the investors are focussed on how vigorously the central bankers intend to be in manipulating the hottest inflation in 40 years. At the end of its 2-day policy meeting, the Federal Open Market Committee is almost sure to increase its rates by a quarter percentage. The new forecasts of FOMC (Federal Open Market Committee), will project the 4 interest-rate hikes, in the years 2022 and 3 in 2023.