✉news BusinessCrypto first seen 13 h ago, last 1 h ago, peak #7
Bitcoin turns bullish as traders bet on Fed rate pause
Original: Bitcoin headed 'in bullish direction' as investors bet on Fed pause: Chart of the Day
Bitcoin is moving in a bullish direction, with investors increasingly betting that the US Federal Reserve will pause its rate-hiking cycle, according to Yahoo Finance's Chart of the Day. Lower rates are typically seen as supportive for risk assets like crypto, and anticipation of a dovish Fed stance appears to be lifting sentiment around the cryptocurrency. Traders are watching upcoming Fed decisions and bitcoin's price charts for confirmation of the trend.
Why now: Investors are speculating that a Fed rate pause will boost risk assets like bitcoin.
Evidence
- Bitcoin headed 'in bullish direction' as investors bet on Fed pause: Chart of the Day · Yahoo Finance
- Bitcoin headed 'in bullish direction' as investors bet on Fed pause: Chart of the Day · Yahoo Finance Singapore
API: https://socialmediatrends-api.osmike.com/v1/trends/863970