Bitcoin Grows Weary Around $43,000 as Federal Reserve Keeps Watching
Bitcoin (BTC) is trading sideways near the $43,000 mark after slipping to a low of $42,276 earlier this week. The dip has stalled, leaving traders eyeing what’s next.
Federal Reserve’s Tightening Tune
- Powell’s latest line: Inflation “remains elevated” and a March rate cut looks unlikely.
- Markets wary: The Fed hasn’t announced any easing, sparking fears that risky assets could see a short‑term capital outflow.
Powell’s comments, the approaching Bitcoin halving, and on‑chain metrics are zooming into the short‑term picture.
The “Sell‑the‑News” Effect
With the halving looming, Bitcoin’s price is hovering around $43,000, but no clear short‑term bias emerges. Still, fundamental signs hint at a bullish tilt that could kickoff a climb.
What’s Happening in the Crypto World?
- After a drop in major stock indices, cautious buying saw markets settle on Thursday.
- Market cap: $1.62 trillion, down 1.9% from yesterday.
- Solana leads volatility, falling 4.7%.
- XRP continues its slide, losing nearly 20% over 30 days.
Bitcoin’s Price Roadmap
Two scenarios are on the table:
- Keep climbing after a strong support bottom at $38,505 (formed Jan 23).
- Hit a deep correction between $36,000 and $34,000, then bounce up to a peak around $48,662.
The latter lands just before the halving, nearly 90 days out, potentially creating a fresh downside and new support levels.
Ethereum’s Quick Shift
October 17 saw Ethereum’s Deneb‑Cancun upgrade go live, slicing the chain in under four hours. The SEC is set to approve Ethereum ETFs on May 23, with the coin expected to hit $4,000 soon after.
Visa & Transak Partnership
Visa’s new deal with Web3 payment provider Transak lets users convert crypto into fiat via bank cards in over 145 countries, bolstering market confidence and potentially pushing Bitcoin higher in the medium term.
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