Bitcoin, Ethereum Technical Analysis: BTC, ETH Move Lower on Thursday, After Hawkish Fed Rate Hike
Bitcoin fell towards the $20,000 mark on Thursday, after the U.S. Federal Reserve once again moved to increase interest rates. The Fed hiked rates by 75 basis points (bps), as it chose to maintain its current hawkish policy. Ethereum, which initially surged on the news, was also lower in today’s session. Bitcoin Bitcoin (BTC) dropped in Thursday’s session, as bearish sentiment rose, following the aftermath of yesterday’s Fed meeting. Following the Federal Reserve’s decision to maintain current hawkish policy by raising rates , BTC/USD surged to a peak of $20,742.81. However, this sentiment has shifted, as markets now expect this to be the last such hike by the Fed, who may begin to pivot. BTC/USD – Daily Chart BTC/USD fell to a low of $20,087.13 earlier in the day, and came as bears attempted to take the token below $20,000. As of writing this, the 14-day relative strength index (RSI) is now tracking at 51.84, which is below a floor of 53.00. ...