Bitcoin price today: recovers to $69k ahead of Fed rate decision, CPI print By Investing.com
- Bitcoin Price Movement: Bitcoin price rose 3.5% to $69,367.6 after a recent decline, with volatility influenced by rate jitters and anticipation of Federal Reserve decisions.
- Market Sentiment and Impact on Cryptos: High rates reduce the appeal of risk-driven assets like crypto, leading traders to pivot into safer assets amid uncertainty.
- Federal Reserve Meeting and Inflation Data: The Fed is expected to keep rates unchanged, but a potential hawkish outlook may be presented due to inflation concerns.
- Altcoins Performance: Major altcoins, including Ether, ADA, XRP, SOL, DOGE, and SHIB, rose alongside Bitcoin, recovering from earlier declines.
- Bitcoin ETF Outflows: Bitcoin ETFs experienced outflows as traders reduced risk ahead of key macroeconomic reports, with Grayscale's GBTC leading in outflows.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
