• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • 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: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • 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: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight

Bitcoin Flat Ahead of FOMC Update But A Rally to $10K is Likely; Here’s Why

Yashu Gola
by Yashu Gola
5 years ago
·
Posted in Bitcoin Price
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Bitcoin is trading cluelessly ahead of the Federal Open Market Committee’s two-day meeting starting Tuesday.
  • The cryptocurrency attempted a price rally towards $10,000 during the overnight session Monday but fell back due to profit-taking sentiment.
  • Analysts expect the Federal Reserve to maintain interest rates near zero while continuing its open-ended stimulus program.
  • That could help bitcoin sustain its bullish bias in the long-term, with a close above $10,000 likely in June 2020.

Bitcoin attempted a rally towards its critical technical resistance level near $10,000 hours after the S&P 500 recouped all its yearly losses on Monday.

But the cryptocurrency’s upside move ran out of breath right ahead of hitting $9,900. Day traders used the surprising bullish run to extract near-term profits, crashing Bitcoin to as low as $9,567 ahead of midnight Tuesday. Later into the intraday session, it recovered but was trending flat in a tight sideways range.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt
BTCUSD trending sideways as bias-conflict grows below $10,000 | Source: TradingView.com, Coinbase

Bitcoin’s pump-and-dump drew inspirations from a partially similar move in the U.S. stocks. The benchmark S&P 500 leaped 38.46 points, or 1.8 percent, to turn positive for the year. At one point in March 2020, the index was more than 30 percent down from its historic high. It is now in green by 0.05 percent.

Nevertheless, futures linked to the S&P 500 looked steady ahead of the New York opening bell of Tuesday. They hinted to open the 0.16 percent below zero, thereby reaching an erratic parity with the sentiments in the Bitcoin market.

FOMC Update

Top analysts believe that the U.S. stocks are rising because of a better-than-expected jobs report and reopening of the economy after a pandemic-induced lockdown. Meanwhile, the Federal Reserve’s open-ended stimulus policy also helped equities, as well as bitcoin, grow from their mid-March bottoms.

spx, s&p 500, bitcoin
SPX performance up 40 percent since the March 2020 crash | Source: TradingView.com

But the reason why the S&P 500 and Bitcoin has gone flat on Tuesday is the Federal Open Market Committee’s two-day meeting that starts Tuesday. Investors are waiting for the Fed chair Jerome Powell to deliver his policy statement on Wednesday, with some analysts pointing that he would keep the stimulus program unchanged.

“The Committee will likely focus on successfully implementing their already-announced credit facilities and continue discussions on the longer-term outlook for asset purchases and forward guidance,” said Nomura economist Lewis Alexander in an investor note.

Effect on Bitcoin

The Fed is maintaining its benchmark rates between 0 and 0.25 percent to boost lending in a recovering U.S. economy. It has also launched an aggressive quantitative easing program, expandable beyond its current cap of $7 trillion.

Mr. Powell’s focus on keeping these policies intact may demean the U.S. dollar and allow investors to move further into the risk markets. Part of that money could reach Bitcoin as investors hunt for better-yielding assets as a hedge against an overbought U.S. stock market.

As a result, the cryptocurrency could see small negative adjustments as the S&P 500 corrects lower, given its erratic correlation. But holding above $8,600-9,000 could have it retest the $10,000-resistance.

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

1 year 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

1 year ago
Please login to join discussion

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    1 day ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    1 day ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    1 day ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    2 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    2 days ago

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

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.