{"id":157482,"date":"2023-09-17T14:50:04","date_gmt":"2023-09-17T09:20:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=157482"},"modified":"2023-09-17T14:50:04","modified_gmt":"2023-09-17T09:20:04","slug":"bitcoin-price-settles-at-26-5k-as-key-fed-inflation-week-dawns-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-settles-at-26-5k-as-key-fed-inflation-week-dawns-crypto-news\/","title":{"rendered":"Bitcoin price settles at $26.5K as key Fed inflation week dawns – Crypto News"},"content":{"rendered":"

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Bitcoin (BTC<\/a>) circled $26,500 into the Sep. 17 weekly close after new September highs gave way to calmer conditions.<\/p>\n

BTC\/USD 1-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n

Bitcoin saves volatility for weekly close<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC price performance stabilizing over the weekend.<\/p>\n

The largest cryptocurrency had seen a trip to $26,880 two days prior, this marking its highest levels of the month so far.<\/p>\n

Summarizing the state of the Binance BTC\/USD order book, popular trader and analyst Credible Crypto noted that a cluster of bid liquidity was buoying the market.<\/p>\n

\u201cSome seller absorption happening here- this level being defended atm,\u201d he wrote in part of accompanying comments on X (formerly Twitter).<\/p>\n

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Some seller absorption happening here- this level being defended atm. Not much below it so if lost would probs see a nice flush to downside targets. Been fun watching this but going to call it a night. Let’s see what tomorrow brings. Hopefully a slow weekend so we can just chill\u2026 https:\/\/t.co\/NFD7qcfAnC<\/a> pic.twitter.com\/4gWXpEDfsX<\/a><\/p>\n

\u2014 CrediBULL Crypto (@CredibleCrypto) September 16, 2023<\/a><\/p><\/blockquote>\n

Amid consolidatory movement, fellow trader Crypto Tony eyed two potential scenarios \u2014 with $26,000 still holding as support regardless.<\/p>\n

\u201cI am still looking for that dip down to $26,100 and a bounce for a long trigger,\u201d he told<\/a> X subscribers on the day.<\/p>\n

\u201cEither that or if we just reclaim $26,600 highs i will look to long.\u201d<\/p><\/blockquote>\n

BTC\/USD annotated chart. Source: Crypto Tony\/X<\/em><\/figcaption><\/figure>\n

Looking more closely at exchange behavior, trader Skew highlighted specific short-term trends among traders, with spot entities selling into bounces.<\/p>\n

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$BTC<\/a> Aggregate CVDs & Delta
Pretty much just aggressive positions getting hunted into next week <\/p>\n

Only detail here is spot selling perp driven bounces, especially squeezes https:\/\/t.co\/4yZFhcsYwx<\/a> pic.twitter.com\/KqRyRlyUHl<\/a><\/p>\n

\u2014 Skew \u0394 (@52kskew) September 17, 2023<\/a><\/p><\/blockquote>\n

Can FOMC shift BTC price range?<\/h2>\n

Beyond the weekly close, crypto market participants were eagerly awaiting the coming week\u2019s key macroeconomic event from the United States Federal Reserve.<\/p>\n

Related:\u00a0Bitcoin price all-time high will precede 2024 halving \u2014 New prediction<\/a><\/em><\/strong><\/p>\n

The Federal Open Market Committee (FOMC) meeting on Sept. 20 is set to decide benchmark interest rates, with markets overwhelmingly expecting them to remain unchanged.<\/p>\n

CME Group\u2019s FedWatch Tool<\/a> put the odds of a surprise scenario at just 2%.<\/p>\n

Fed target rate probabilities chart. Source: CME Group<\/em><\/figcaption><\/figure>\n

As Cointelegraph reported, however, Bitcoin has recently cooled its kneejerk reactions<\/a> to macro data prints, and going into FOMC, some believed that the status quo would remain.<\/p>\n

\u201cNext weeks FOMC and Interest Rate decisions should induce some volatility, but BTC will likely continue to trade within $25k – $27k in the short-term\u2026,\u201d popular trader Crypto Santa concluded<\/a> in part of recent X commentary.<\/p>\n

BTC\/USD annotated chart. Source: Crypto Santa\/X<\/em><\/figcaption><\/figure>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) circled $26,500 into the Sep. 17 weekly close after new September highs gave way to calmer conditions. BTC\/USD 1-hour chart. Source: TradingView Bitcoin saves volatility for weekly close Data from Cointelegraph Markets Pro and TradingView showed BTC price performance stabilizing over the weekend. The largest cryptocurrency had seen a trip to $26,880 two […]<\/p>\n","protected":false},"author":2,"featured_media":157483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-157482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=157482"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157482\/revisions"}],"predecessor-version":[{"id":157485,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157482\/revisions\/157485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/157483"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=157482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=157482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=157482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}