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bitcoin
Bitcoin (BTC) $ 23,141.20
ethereum
Ethereum (ETH) $ 1,590.20
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 306.02
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.410354
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.08659
cardano
Cardano (ADA) $ 0.382289
solana
Solana (SOL) $ 24.15
matic-network
Polygon (MATIC) $ 1.16
polkadot
Polkadot (DOT) $ 6.46
tron
TRON (TRX) $ 0.062989
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HomeMarket UpdatesBitcoin stays near $17k after FOMC minutes launch: Will BTC rally quickly?

Bitcoin stays near $17k after FOMC minutes launch: Will BTC rally quickly?


  • Bitcoin value steadied above $16,800 as US Federal Reserve officers agreed to gradual its tempo of rate of interest hikes.

  • The most recent FOMC minutes point out that US policymakers are centered on controlling the tempo of value hikes.

  • Bitcoin might surge previous the $17k resistance degree quickly.

BTC eyes the $17k resistance degree

The USA Federal Reserve lately launched minutes from the Federal Open Market Committee for December. Fed members agreed {that a} restrictive coverage stance would should be maintained for now till the incoming information supplied confidence that core inflation was on a sustained downward path again right down to 2%.

This newest cryptocurrency information noticed Bitcoin, the world’s main cryptocurrency by market cap, keep its value above the $16,800 degree over the past 24 hours. It has misplaced lower than 1% of its worth, and the value of Bitcoin now stands at $16,834.Β 

The broader crypto market can be recovering from its latest stoop. At press time, the whole cryptocurrency market cap stands at $819 billion, up by lower than 1% within the final 24 hours.

Key ranges to look at

The BTC/USD 4-hour chart is bullish as Bitcoin has held its floor above the 50-day Exponential Transferring Common (EMA) at $16,714 over the previous couple of days.Β 

The MACD line is above the impartial zone, indicating that the main cryptocurrency has preserved its downward development from the standpoint of realised value. The 14-day RSI of 61 additionally exhibits that extra bulls controlling the market might see BTC enter the overbought area.Β 

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If the bullish momentum will increase, BTC might surge previous the primary main resistance degree at $17,145 over the subsequent few hours. Nonetheless, Bitcoin might battle to surpass the second main resistance degree at $17,485 within the quick time period, except it good points help from the broader crypto market.Β 

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