Bitcoin's Rally to $36K Hinges on Fed's Next Move Amid Bank Woes.
TL;DR Summary
Bitcoin could potentially rally 20% to around $35,000 - $36,000, according to a research report by crypto-services provider Matrixport. The report suggests that Bitcoin has been trading in a narrowing wedge that is about to be broken to the upside, projecting a move higher by an amount equal to when the wedge started to be formed. Despite declining trading volumes, the report notes that transactions on the Bitcoin network have reached new all-time highs, and crypto sentiment has improved with meme coins being actively traded.
- Bitcoin Could Rally 20% to Around $36K: Matrixport CoinDesk
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- The Fed has little ammo left as $30K Bitcoin price becomes key battle line Cointelegraph
- Fed Preview: Crypto Observers Believe Bitcoin Rally May Stall if Powell Does Not Signal End of Tightening CoinDesk
- Bitcoin Rises Toward $30000 as Bank Woes Ripple Across Markets Bloomberg
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