Source: CoinMarketCapBitget chief analyst Ryan Lee recently told Cointelegraph that with Bitcoin hovering in the low $80,000s, its price and OI could see more volatility if the March 19 Federal Open Market Committee meeting delivers any surprises.“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets,” he added. Related: Bitcoin experiencing ‘shakeout,’ not end of 4-year cycle: AnalystsMarkets are currently pricing in a 99% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.
Bitcoin’s nearly $12 billion open interest shakeout earlier this month might be just the catalyst needed for the asset to regain its upward momentum, according to a crypto analyst.“This can be considered as a natural market reset, an essential phase for sustaining a bullish continuation,” CryptoQuant contributor DarkFost said in a March 17 markets report.“Looking at historical trends, each past deleveraging like this has provided good opportunities for the short to medium term,” the analyst said.
Source: CoinGlassIt came amid volatile price swings due to uncertainty over US President Donald Trump’s imposed tariffs and the future of US interest rates.“Following the recent panic triggered by political instability linked to Trump’s decisions, we witnessed a massive liquidation of leveraged positions on Bitcoin,” DarkFost said.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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