Is Bitcoin Headed for a Drop? The Ripple Effect of Fed's Moves
Bitcoin and cryptocurrency markets are shaky. Recent Fed announcements have caused worry. Bitcoin (BTC) might be heading for a downturn, and experts are watching closely. Also Read: How to Buy USDT with Google Pay? How Fed Announcements Impact Bitcoin and Cryptocurrency Markets Source: Investopedia Recent Market Trends Sellers have become active "Short-term holders transferred 33,155 bitcoins as shown by the 1w-1m spent output age bands. This could present immediate selling pressure." – By @XBTManager Read more https://t.co/xi29sRvtpS pic.twitter.com/pH5Ur1cl9E — CryptoQuant.com (@cryptoquant_com) August 26, 2024 Bitcoin is leading a possible downward trend in cryptocurrencies. The market was hopeful after recent Fed announcements about policy changes, but this hope is fading. BTC’s price has fallen below an important marker, suggesting less positive momentum. Short-Term Selling Pressure Data shows more short-term owners are selling. CryptoQuant says: “Short-term holde...