NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Eerie Fractal Puts Bitcoin At Risk of Testing $47,000; Here’s Why

Yashu Gola
Yashu Gola
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin prices were relatively flat ahead of the New York opening bell Tuesday as traders waited for the Federal Reserve officials’ gathering for a two-day policy meeting.

The flagship cryptocurrency slumped 0.12 percent to $555,88.07 as of 1330 GMT. Earlier during the Asia-Pacific session, it was trading for as low as $53,221 after a mysterious $1 billion transfer to the Gemini exchange’s wallet panicked the market about a potentially massive sell-off.

Bitcoin also turned lower partly because of profit-taking sentiment after its price settled a new record high above $61,000 during the weekend session. The cryptocurrency’s downside move, coupled with the massive Gemini inflow, served as reminiscent of a similar price action after its price crossed $58,000 in late-February.

The Bitcoin Fractal

Back then, the BTC/USD exchange rate declined by as much as 26.30 percent, hitting $43,016 before rebounding higher in the later sessions towards $60,000. Additionally, the pair received support from its 50-day simple moving average (the blue wave in the chart below) that maintained its overall bullish bias despite the massive plunge.

The current price action appeared similar. Bitcoin found short-term support at its 20-day exponential moving average (20-DMA) on Tuesday, suggesting that a breakdown below the green wave could land its price near the 50-DMA.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin shows strong footing near its 20-DMA wave. Source: BTCUSD on TradingView.com

The 50-DMA wave sits near $47,000. Generally, it has served as a strong support buffer during Bitcoin’s uptrend since March 2020. Therefore, it tends to act as a psychological rebound area should the price dip below $50,000 in the coming sessions.

Fed Meeting

The prospect of Bitcoin dumping lower depends on how the Federal Reserve meeting pans out by Wednesday. For the first time, the central bank officials are meeting against a stronger economic backdrop: the coronavirus cases are dropping, the vaccination rollout is accelerating, and US President Joe Biden’s $1.9 trillion stimulus plan is close to benefit Americans with up to $1,400 worth of direct payments.

Markets have taken notice. The yield on the benchmark US 10-year Treasury note has surged to its highest level in more than a year, raising concerns about premature financial policy tightening by the Fed. The central bank has maintained its benchmark rates near zero and continued its $120bn monthly asset purchasing program since March 2020.

Analysts do not expect a policy alteration but remain convinced that Fed would discuss its plans to taper down its expansionary policies against an improving economic outlook. Therefore, any sign of tightening from the central bank officials could pressure Bitcoin lower.

The cryptocurrency has surged 1,500 percent against loose monetary conditions.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

비트코인 하이퍼, 고래 대량 매집에 힘입어 2,400만 달러 돌파 눈앞

비트코인 하이퍼, 고래 대량 매집에 힘입어 2,400만 달러 돌파 눈앞

핵심 요약 비트코인, 다시 10만 달러 선에 근접하며 하락세 장기적으로는 비트코인 회복 전망 뚜렷해 비트코인 하이퍼, 확장성 문제 해결할 레이어2 솔루션으로 주목 $HYPER 사전...

Soyeon Lee 4 hours ago
Bitcoin and XRP

Economist Explains The Reality Behind XRP Price Reaching $100,000, It Can’t Overtake Bitcoin

Economist and former forex analyst Moonchaser is explaining why expectations of the XRP price reaching $100,000 are not realistic. According...

Sandra White 5 hours ago
Elon Musk tweet Floki CEO

Elon Musk opäť testuje trh. Meme coin Floki vystrelil o 30 %

Generálny riaditeľ spoločnosti Tesla a šéf sociálnej siete, Elon Musk, opäť ukázal, ako dokáže prostredníctvom online platforiem rozhýbať trh s...

Nina Šefčíková 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum news

Analyst Sounds Alarm: Ethereum Could Unwind To $2,850

Jake Simmons 52 minutes ago
Best Crypto to Buy as Blockchain.com Plans SPAC Listing: Market Explosion Soon?

Best Crypto to Buy as Blockchain.com Plans SPAC Listing: Market Explosion Soon?

Aaron Walker 4 hours ago
Ethereum breakout? Tom Lee ziet $5500 tot $12.000 in Q4 2025

Legendarische trader Tom Lee voorspelt $5000 ETH koers – altseason timing

Lars Diederiksen 4 hours ago

Premium Sponsors

Press Releases

  • シバコイン 今後の価格予測:大口投資家が買い増しを加速、回復基調が続き0.0000235ドル突破への勢い

    シバコイン...

    5 hours ago
  • イーサリアム 今後の展望:10億ドル規模のETH信託設立が市場に楽観ムードをもたらす

    イーサリアム...

    5 hours ago
  • ビットコイン 今後の動向:11万ドルを下回る中で進む機関投資家の買い集め

    ビットコイン...

    5 hours ago
  • パイネットワーク 価格予測:上昇期待が高まる中、次世代ビットコイン系プロジェクトはより有望な選択肢か?

    パイネットワーク...

    5 hours ago
  • ドージコイン 今後の予測:Gemini AIが示す、新世代ミームトークンの台頭

    ドージコイン 今後の予測:Gemini...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.