Bitcoin continued to rise throughout the day in the hope of alleviating the monetary conditions in the United States, as all eyes were determined on the Federal Open Market Committee meeting later today.
As of the latest update, the total maximum Crypto market increased by 2.3 %, climbing alongside Bitcoin to reach the highest level in 9 days at $ 2.87 trillion.
However, the feelings of the market remained in the lands of fear due to uncertainty about the upcoming cash decisions.
The Crypto Fear and Greed Index decreased two points from yesterday to 32; However, the market expectations seem to recover, as Bitcoin and a number of the best altcoins have gained at the time of the press.
Will the price of bitcoin rise?
Traders are currently waiting for the FBI decision, which may determine the tone of the big step for Bitcoin.
A position by the Federal Reserve Chairman Jerome Powell – to get rid of potential price cuts or the end of quantitative tightening – can wander in commercial centers exceeding $ 90,000, according to analysts.
On the other hand, if the Federal Reserve holds its correct approach, Bitcoin may struggle to get out of its current unification.
Currently, the Fedwatch tool for the CME group shows the possibility of 99 % that the Fed Bank maintains fixed rates.
Although no surprises in today’s announcement, traders focus more on Powell’s tone and any evidence about future policy attacks.
Analysts remain divided into effect. Marcus Thynin, CEO of 10x Research, expects an “anti-direction” where Bitcoin seems exaggerated, but warns that this is not a great incentive export-only some policy makers.
Meanwhile, Elijah Calchip, an analyst at Nexo, believes that Powell’s statements can be the decisive factor, indicating that if the Federal Reserve is somewhat indicating QT, risk assets like Bitcoin can rise.
While some analysts in Cryptoquant suggested that the bull cycle may end, others believe that the positive shift in the Powell tone can send bitcoin climbing again.
Keith Alan, the co -founder of material indicators, noted that if Powell beats the tone of the occurrence of recession, Bitcoin can pay its average for 21 days and 200 days, currently at 84,350 dollars and 84,995 dollars, respectively.
This can help avoid what looked like an intersection of the imminent death – a declining technical pattern usually seen by traders closely.
But if Powell throws bad news, Alan warned that Bitcoin could review its lowest levels over $ 76,000.
Meanwhile, Rekt Capital looks forward to a height. The trader believes that Bitcoin still has a climbing room, with a potential CME gap that fills the payment rates of $ 87,000.
Bitcoin has already re -supported the support of about $ 78,000 – $ 80,700, and if the current upward trend bears, the payment may be higher on the cards.
Crypto Beastlorion referred to A. The accumulation of short liquidation Between $ 84,000 and $ 90,000 on the Binance BTC/USDT map, indicating that the last bitcoin momentum can push to this region.
Also shared feelings by the rolled ufo calls.
Time to $ BTC To take liquidity above us now. Send it above 📈
Meanwhile, the well -known analyst Bitbull showed his bullish position by going long on Bitcoin, setting goals ranging from $ 88,888 and $ 108,000.
In the post, Bitcoin was trading at $ 84,310, an increase of 2.9 % over the past 24 hours.
Altcoin market recovers
The total maximum Altcoin market jumped by 9.9 %, reaching $ 1.22 trillion, with the Altcoin season index remaining in 21, indicating the entire Bitcoin season.
However, a number of the best 99 altcoins on the Grisyide when writing, with the best winners who spread gains from two numbers:
Raydium
Raydium increased nearly 15.7 % during the past day trading at $ 1.86 whose market was sitting at a price of about $ 542 million at the time of the press.
Its daily trading doubled more than three times to 243.4 million dollars, while the trading offer was 290.84 million dollars.
source: Coinmarketcap
Today’s market gains are largely driven by news that Raydium launches Meme Coin Launchpad, which is called Launchlab, which can compete with Pump.fun, the transition platform to launch Meme Token.
Liquid
Over the past day, the height of the liquid increased by 13.8 %, and the exchange of hands at $ 15.07 per currency, while the market value increased to $ 5.03 billion at the time of writing this report.
The daily trading volume also increased by 70 % to 98.86 million dollars, amid increasing attention from investors.
source: Coinmarketcap
The new Tiers Staking system from Hyperleliid, which was launched on April 30 or after, gave Altcoin boost.
The update provides less trading fees based on the amount of noise, which makes the platform more competitive with central exchanges.
Even users who do not acquire still enjoying reduced fees.
Change is expected to enhance protocol revenues and increase Hype.
In addition, immediate trading sizes will be calculated towards the trading chart, which encourages more activity on the platform.
The whales also turned her attention to the noise, as she recently bought more altcoin – a step that can usually attract more investments from retailers.
EOS
EOS (EOS) increased by 14.6 % over the previous day, as it was traded at $ 0.56 from the time of the press while the maximum market reached 883.5 million dollars.
Daily trading volume also saw a significant increase of 785 % to more than $ 571.4 million.
source: Coinmarketcap
Today’s gains come at a time when EOS renames Vaurta because it presses to become the best Blockchain for financing.
The project aims to connect traditional financing to WEB3, with a focus on areas such as wealth management, payments, investments and insurance.
The VAULTA wealth management system will be operated by CEFUU, a network that provides Bitcoin.
Using the apparent VAULTA series setting, the goal is to convert bitcoin into completely liquid assets and generate the return within the WEB3 banking space.
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