Bitcoin Defies Odds: How to Profit From Crypto Turmoil
• Bitcoin is holding strong despite scrutiny from regulatory bodies and a volatile market.
• High-timeframe investors believe that any pullbacks from the current price point offer a significant opportunity.
• The rising interest rates challenge crypto and stock markets, causing billions in open interest to be effectively washed out.
Bitcoin Continues To Defy All Odds
Bitcoin has continued to defy all odds, holding strong despite pressure from regulatory bodies and a volatile market. With all moving averages angled upwards, high-timeframe investors believe that any pullbacks from the current price point offer a significant opportunity.
Rising Interest Rates Challenge Markets
The quarter-point interest rate rise by the Federal Open Market Committee (FOMC) caused traders to take profits on a 20% gain over a seven-day rolling period, leading to Bitcoin sliding under $27,000. BTC-tracked futures traders experienced over $150 million in losses due to this move higher after the meeting, resulting in billions in open interest being effectively washed out.
Traders Can Leverage This Opportunity
Traders can use this opportunity to their advantage by keeping an eye on the broader market’s movements and monitoring the range’s upper and lower limits of the S&P 500 which is stuck between 0.75 and 0.5 levels with a break either up or down likely determining its next direction.
Structural Changes Could Play Role In Influencing Market Behavior
As Bitcoin continues to endure scrutiny from SEC and banks, structural changes such as upcoming airdrops could also play a role in influencing the market’s behavior pushing prices higher – offering an additional incentive for high timeframe investors looking to benefit from price pullbacks at this juncture.
Inflation Targeted By Federal Reserve
The FOMC decision reinforced the Federal Reserve’s commitment to returning inflation back within its 2% objective; however it presented certain challenges for both crypto and stock markets which have since been addressed by traders taking precautionary measures when necessary amid these conditions of uncertainty.
