Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheet - BitcoinEthereumNews.com
BTC / USD 1-घंटे का कैंडल चार्ट (Bitstamp)। स्रोत: TradingViewTrader: Chop then breakout “makes sense” for Bitcoin Data from Cointelegraph Markets Pro and TradingView tracked a swift decline for BTC/USD around the start of trading, with lows of $43,312 appearing on Bitstamp. The pair had managed to hit $44,500 overnight, these gains dissipating as traders awaited cues from the Fed on inflation, asset purchase tapering and the all-important interest rate hike schedule. With Bitcoin and altcoins highly correlated with stocks, any testing times for traditional markets in the form of rate hikes could equally spell gloom for crypto investors. The written document, due at 7pm UTC, will cover a meeting of the Federal Open Market Committee (FOMC) from late January. Commenting on the event, Gina Martin Adams, chief equity strategist at Bloomberg Intelligence, argued that reduction of the Feds balance sheet, now at nearly $9 trillion, could spell worse pain for equities than a rate hike. “I‘m still more worried about the balance sheet than rate hikes. Since 2010, changes in the balance sheet explained nearly one-third of the move in the market’s multiple, and every 100-bp drop in the balance sheet could shave 29 bps off the S&P 500s forward P/E,” she विख्यात. Among crypto traders,