\t\t\t\t\t\t\t\t![](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/03\/IMG_20220322_164603_71-80x80.jpg\")
<\/p>\n
Journalist<\/p>\n<\/p><\/div>\n
\t\t\t\t\t\t\t\tPosted: September 17, 2023 Bitcoin [BTC]<\/a> just concluded an exciting week characterized by the return of volatility, and bullish demand. At the same time, the extended downside that has occurred for the last few weeks had BTC holders anxious about the short to mid-term outlook.<\/p>\n Is your portfolio green? Check out the BTC Profit Calculator<\/a><\/p>\n There is renewed hope and excitement now that Bitcoin bulls are back. However, there is one major situation that could hold back BTC\u2019s upside or even erase the recent gains.<\/p>\n Notably, the U.S. Federal Reserve is slated to make an announcement regarding its next interest rate decision. An interest rate hike could spoof investors and lead to more price suppression.<\/p>\n Trending news: FED might hike rates again?! To make this news easier to deal with, here’s a limerick:<\/p>\n There once was a man named Powell, \u2014 LunarCrush Social Trends (@LunarCrush) September 15, 2023<\/a><\/p>\n<\/blockquote>\n Another instance of sell pressure would prevent Bitcoin from recovering back to the $30,000 range<\/a>. Perhaps it could even push it back to the lower $20,000s.<\/p>\n But is there a chance that Bitcoin could avoid more downside? Well, whales and institutional investors have been participating, thus contributing to bullish momentum.<\/p>\n Bitcoin addresses holding at least 1,000 and 10,000 BTC pivoted on 11 September after previously contributing to sell pressure. This confirmed the bullish whale activity. However, in this case, we should be establishing whether there might be incoming sell pressure<\/a>.<\/p>\n Source: Glassnode<\/p>\n<\/div>\n Despite the whale accumulation, realized cap remains low, which means most of the buyers that bought BTC in the last 30 days are still not in profit. In other words, there is not much of an incentive to sell, hence the potential downside could be limited.<\/p>\n Meanwhile, the recent return of confidence in the market has been attracting a lot of new addresses. According to the latest Glassnode alerts, the number of new Bitcoin addresses<\/a> just reached a new 5-year high.<\/p>\n \ud83d\udcc8 #Bitcoin<\/a> $BTC<\/a> Number of New Addresses (7d MA) just reached a 5-year high of 26,005.952<\/p>\n Previous 5-year high of 25,964.494 was observed on 09 January 2021<\/p>\n View metric:https:\/\/t.co\/tDzY9Fl7QL<\/a> pic.twitter.com\/VcrO1v1pKH<\/a><\/p>\n
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n\n
\n
\n\n
Whose rate hikes made many a scowl.
The markets did dip,
Investors did flip,
And folks started throwing in the towel. https:\/\/t.co\/2vaeUOgqXf<\/a><\/p>\nAre Bitcoin whales playing the market once again?<\/strong><\/h4>\n
![\"Bitcoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/glassnode-studio_btc-realized-cap-btc-addresses-with-balance-1k-btc-addresses-with-balance-10k.png\")
<\/a><\/p>\n\n