• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • bitcoinBitcoin(BTC)$21,194.00-1.27%
    BITCOIN
    24H : -1.27%
    Volume : $18,569,095,338.00
    Marketcap : $403,388,105,933.00
  • ethereumEthereum(ETH)$1,228.53-0.22%
    ETHEREUM
    24H : -0.22%
    Volume : $13,324,526,130.00
    Marketcap : $148,808,287,834.00
  • binancecoinBNB(BNB)$240.15-0.06%
    BNB
    24H : -0.06%
    Volume : $810,137,848.00
    Marketcap : $39,151,834,444.00
  • rippleXRP(XRP)$0.354-3.12%
    XRP
    24H : -3.12%
    Volume : $960,927,433.00
    Marketcap : $17,082,268,020.00
  • cardanoCardano(ADA)$0.495-2.01%
    CARDANO
    24H : -2.01%
    Volume : $706,782,461.00
    Marketcap : $16,715,606,529.00
  • solanaSolana(SOL)$39.36-4.03%
    SOLANA
    24H : -4.03%
    Volume : $1,184,677,207.00
    Marketcap : $13,458,090,336.00
  • dogecoinDogecoin(DOGE)$0.073-5.49%
    DOGECOIN
    24H : -5.49%
    Volume : $652,870,885.00
    Marketcap : $9,674,299,726.00
  • polkadotPolkadot(DOT)$7.84-3.94%
    POLKADOT
    24H : -3.94%
    Volume : $362,214,749.00
    Marketcap : $8,806,413,256.00
  • shiba-inuShiba Inu(SHIB)$0.000011-5.08%
    SHIBA INU
    24H : -5.08%
    Volume : $521,456,257.00
    Marketcap : $6,502,429,812.00
  • avalanche-2Avalanche(AVAX)$20.06-5.66%
    AVALANCHE
    24H : -5.66%
    Volume : $433,487,438.00
    Marketcap : $5,641,618,028.00
  • terra-lunaTerra(LUNA)$0.000071-5.71%
    TERRA
    24H : -5.71%
    Volume : $134,734,814.00
    Marketcap : $768,841,921.00
TodayinCrypto.com

TodayinCrypto.com

  • Home
  • Latest News
  • YOUTUBE RECAPS
  • CONTACT US

Bitcoin rises above $39,000 as speculators anticipate a favorable FOMC interest rate hike


May 4, 2022 · By MATheGooner
Bitcoin (BTC)

Bitcoin has seen a lot of volatility in recent weeks with April ending with the worst returns in history, and while the pattern looks like it will continue in May, Bulls have decided to take control of the Bitcoin price. 

The crypto market has been trading in a limited range as investors await the US Federal Reserve’s decision on a new rate hike, which has become a monthly defining feature of market direction.

Source: NebraskanGooner

Today’s price action, however, has been rather upbeat, with Bitcoin breaking beyond $39,000 for only the second time in the last six weeks as bulls take advantage of the market’s uncertain trajectory and seize control.

The market may have pumped today, but the price action resulted in similar liquidation of both long and short orders, although long orders are liquidated 54.82 percent more than short orders, according to Coinglass data.

47,177 traders liquidated their short positions across the cryptosphere in the past 24 hours, bringing the total amount liquidated to around $136.58 million, which is low when compared to earlier turbulent days. 

Investors in the global equities market, with which Bitcoin has been moving in lockstep, are expected to respond to the US economic policy announcement, which is due in a few hours.

While crypto’s recent price movement has been largely influenced by macroeconomic factors, any surprises in the Fed’s decision are expected to cause at least brief market volatility, as they did in the past six months as markets try to align with central bank policy. 

The Fed is expected to raise interest rates for the first time in over 20 years, and the start of balance sheet runoff shows that the Fed is serious about fighting inflation, according to Wells Fargo analysts.

Primary Sidebar

LATEST NEWS

Anonymous hacker group threatens to expose Terra LUNA founder Do Kwon’s crimes

June 27, 2022

Ethereum whales have intensified their accumulation of MATIC in the past week

June 26, 2022

Cardano launches EVM sidechain application for developers to facilitate network interoperability

June 25, 2022

Charles Hoskinson proposed software-enabled crypto self-regulation to the US Congress committee

June 24, 2022

The cryptocurrency market has seen inflows of $100 billion since Bitcoin fell below $18,000

June 23, 2022

  • Facebook
  • Instagram
  • Twitter

Newsletter

Footer

ABOUT US

TodayinCrypto is a financial media brand that strives to deliver breaking, accurate and daily news about digital assets to millions of investors in the crypto industry.

We are passionate about Bitcoin and are keen to share news about the people, companies and technological developments that are changing our world.

TODAY IN CRYPTO

  • SEC Chair Gary Gensler says Bitcoin is the only cryptocurrency he recognizes as a commodity June 27, 2022
  • Anonymous hacker group threatens to expose Terra LUNA founder Do Kwon’s crimes June 27, 2022
  • Ethereum whales have intensified their accumulation of MATIC in the past week June 26, 2022

Search

Tags

Aave (AAVE) Aleph.im (ALEPH) Arweave (AR) Avalanche (AVAX) Benchmark Protocol (MARK) Binance Coin (BNB) Bitcoin (BTC) Bondly (BONDLY) Bridge Mutual (BMI) Cardano (ADA) Celsius Network (CEL) Chainlink (LINK) Cosmos (ATOM) COTI (COTI) Decentraland (MANA) DeFi Dogecoin (DOGE) Elrond (EGLD) Enjin Coin (ENJ) Ethereum (ETH) Ethernity Chain (ERN) Fantom (FTM) Kusama (KSM) Litecoin (LTC) NFT OriginTrail (TRAC) PAID Network (PAID) PancakeSwap (CAKE) Polkadot (DOT) Polkastarter (POLS) Polygon (MATIC) SnowSwap Solana (SOL) SuperFarm (SUPER) Sushi (SUSHI) Terra (LUNA) The Graph (GRT) Theta Network (THETA) Tixl (TXL) Trustswap (SWAP) Uniswap (UNI) VeChain (VET) XRP (XRP) yearn.finance (YFI) Yield Optimization Platform & Protocol (YOP)

Copyright © 2022 · Today in Crypto · Terms & Privacy · Log in