FOMC Meeting Minutes to Impact BTC Sentiment
On Wednesday, August 21, the FOMC Meeting Minutes may influence buyer demand for BTC. Increasing Fed concerns about the US labor market and the economic outlook could spook investors. A rising threat of a US recession (hard landing) could affect US BTC-spot inflows and demand.
Investors should also consider supply and demand trends, with Mt. Gox and the US government holding sizeable BTC stockpiles.
Investors should remain alert amid possible changes to supply-demand trends. Stay updated with our latest news and analysis to manage exposure to BTC and the broader crypto market.
Technical Analysis
Bitcoin Analysis
BTC hovered below the 50-day and 200-day EMAs, sending bearish price signals.
A breakout from the 200-day EMA could signal a move to the $60,365 resistance level. Furthermore, a break above the $60,365 resistance level may bring…
