• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Bitcoin Eyes $11,000 as Focus Shifts to Wednesday's FOMC

Bitcoin Eyes $11,000 as Focus Shifts to Wednesday’s FOMC

Yashu Gola
by Yashu Gola
4 years ago
·
Posted in Bitcoin Price
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin logged its best daily performance in more than a month this Monday as it traded in tandem with traditional markets.

The benchmark cryptocurrency closed the New York session 3.32 percent higher at circa $10,679. The gains appeared as buy liquidations–a bet against short-sellers–on crypto derivatives exchange BitMEX outran sell liquidations by more than double. That partially helped BTC/USD in rising above $10,700.

bitcoin, btcusd, btcusdt, xbtusd, cryptocurrency, Euro, EURUSD, cryptocurrency, dollar,
BitMEX XBTUSD Liquidations. Source: Skew

An uptick in bullish positions, meanwhile, took cues from macroeconomic narratives. Three different bullish catalysts played out in sync to help Bitcoin rise. The first of them was and remained the Federal Open Market Committee’s Wednesday meeting on inflation.

Meanwhile, the second and the third catalyst were a rebounding US stock market and a weakening US dollar, respectively.

Explaining Macro

The Federal Reserve officials will meet for the first time since their chairman, Jerome Powell, committed to tolerating higher inflation during his speech at the virtual Jackson Hole economic symposium. Traders and market participants are watching the outcome of this meeting to gain more insights on how the Fed would achieve inflation above its 2 percent target.

One of the most drastic changes in the Fed’s monetary policy that needs more clarity concerns a so-called ‘dot plot.’ The US central bank uses it to signal its expectations of future rate changes. This graphic will indicate just how much each Fed official thinks would cost to borrow money in the future.

It appears that investors, especially in the Bitcoin sector, are already anticipating a dovish approach by the Fed. The cryptocurrency has built on its Monday performance after a steady rise on Tuesday. At its intraday high, the bids for BTC/USD was near $10,830.

bitcoin, btcusd, btcusdt, xbtusd, cryptocurrency, Euro, EURUSD, cryptocurrency, dollar,
BTC/USD eyes a retest of $11,000 ahead of Wednesday’s FOMC. Source: TradingView.com

The continuation in the uptrend has brought older resistance levels back in the view. Josh Rager, the founder of BlockRoots.com, said Monday that he sees BTC/USD hitting $11,900 should it stay above the $10,173-level. The pair is worth much more at the time of this writing.

Bitcoin against Dollar

The prospects of an extended bullish momentum in the Bitcoin market also appears as the US dollar index weakens. The DXY continues to print bearish continuation signals as investors shift back into riskier assets ahead of the Wednesday’s FOMC.

us dollar, bitcoin, btcusdt, btcusd, dxy, xbtusd, cryptocurrency
DXY has plunged 0.84 percent from its session top. Source: TradingView.com

Bitcoin and DXY have shown an inverse correlation since the March 2020 rout. Therefore, any plunge in the greenback points to a more bullish BTC/USD.

Meanwhile, some traders are still anticipating a pullback move. One of them noted that the area above $10,700 has a comparatively higher selling sentiment that risks BTC/USD correcting lower. In his Tuesday analysis, the analyst noted that the pair could still fall below $10,000.

$BTC prediction now approaching some resistance. This is where we'll see if it's got the strength to continue or drops back down. pic.twitter.com/G7xp1ynwTf

— IncomeSharks (@IncomeSharks) September 15, 2020

Fundamentally, BTC/USD looked stronger at least until the conclusion of Wednesday’s FOMC.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Yashu Gola

Yashu Gola

Follow

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Full Profile

Related Posts

cena bitcoinu nove historicke maximum ATH 123 tisíc dolárov

Cena Bitcoinu dnes vyskočila nad 123 000 $. Začína „krypto týždeň“

1 month ago
Bitcoin price

Bitcoin Price To Regain Upward Momentum? These Bitfinex Longs May Hold The Answer

3 months ago
bitcoin

Bitcoin Price Drops With Fed Rate Cuts On The Horizon: Calm Before The Storm?

11 months ago
bitcoin

Bitcoin Open Interest Growth Lags As Price Rebounds: Here’s What It Means For BTC

11 months ago
bitcoin

Bitcoin’s Four-Year Cycle Declared Dead By Outlier Ventures, Here’s Why

11 months ago
Bitcoin Might Not Benefit From Federal Reserve Rate Cuts, Former BitMEX CEO Explains Why

Bitcoin Might Not Benefit From Federal Reserve Rate Cuts, Former BitMEX CEO Explains Why

11 months ago
Please login to join discussion

Premium Sponsors

Press Releases

  • AlloyX Merges with Solowin Holdings at $350 Million...

    4 minutes ago
  • WinnerMining

    “Trump-Backed WLFI Booms — WinnerMining Cloud Mining...

    1 hour ago
  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    16 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    16 hours ago
  • From Institutional to Individual Investors: How XRP and...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.