{"id":406404,"date":"2022-02-16T18:25:04","date_gmt":"2022-02-16T15:25:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dips-before-fed-rate-hike-cues-amid-warning-over-9t-balance-sheet\/"},"modified":"2022-02-16T18:25:04","modified_gmt":"2022-02-16T15:25:04","slug":"bitcoin-dips-before-fed-rate-hike-cues-amid-warning-over-9t-balance-sheet","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-before-fed-rate-hike-cues-amid-warning-over-9t-balance-sheet\/","title":{"rendered":"# Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheet"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a368bdf13b86\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a368bdf13b86\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-before-fed-rate-hike-cues-amid-warning-over-9t-balance-sheet\/#Trader_Chop_then_breakout_%E2%80%9Cmakes_sense%E2%80%9D_for_Bitcoin\" >Trader: Chop then breakout &#8220;makes sense&#8221; for Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-before-fed-rate-hike-cues-amid-warning-over-9t-balance-sheet\/#BTC_bids_inch_higher\" >BTC bids inch higher<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheet <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) fell into the Wall Street open on Feb. 16 as markets held their breath over upcoming comments from the United States Federal Reserve.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/36f14eaa-c5e1-428b-9e39-f0f7ca5d9d78.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Trader_Chop_then_breakout_%E2%80%9Cmakes_sense%E2%80%9D_for_Bitcoin\"><\/span>Trader: Chop then breakout &#8220;makes sense&#8221; for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0tracked a swift decline for BTC\/USD around the start of trading, with lows of $43,312 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earing on Bitstamp.<\/p>\n<p>The pair had managed to hit $44,500 overnight, these gains dissipating as traders awaited cues from the Fed on inflation, asset purchase tapering and the all-important interest rate hike schedule.<\/p>\n<p>With Bitcoin and altcoins highly correlated with stocks, any testing times for traditional markets in the form of rate hikes could equally spell gloom for crypto investors.<\/p>\n<p>The written document, due at 7 pm UTC, will cover a meeting of the\u00a0Federal Open Market Committee (FOMC) from late January.<\/p>\n<p>Commenting on the event, Gina Martin Adams, chief equity strategist at Bloomberg Intelligence, argued that reduction of the Fed&#8217;s balance sheet, now at nearly $9 trillion, could spell worse pain for equities than a rate hike.<\/p>\n<p>&#8220;I\u2019m still more worried about the balance sheet than rate hikes. Since 2010, changes in the balance sheet explained nearly one-third of the move in the market&#8217;s multiple, and every 100-bp drop in the balance sheet could shave 29 bps off the S&amp;P 500&#8217;s forward P\/E,&#8221; she <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GinaMartinAdams\/status\/1493748052393402368\">noted<\/a>.<\/p>\n<p>Among crypto traders, the mood was thus one of near-caution against broader cautious optimism.<\/p>\n<p>&#8220;Still believe more upside to come, but a short-term pullback and\/or chop before major resistances are breached makes sense sooner than later,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Crypto Chase <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Chase\/status\/1493735094334341122\">said<\/a> as part of comments overnight.<\/p>\n<p>For Bitcoin trader and analyst Rekt Capital, meanwhile, attention was further out than the hourly chart. The coming weekly close, after last Sunday&#8217;s disappointment, still had the opportunity to reveal an uptrend in the making.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s mid-week but <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> is still positioned for an orange circled Weekly Close<\/p>\n<p>Lots can still change in the days ahead but this is the Weekly Close that will most likely confirm further upside<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dcbu56gmbe\">pic.twitter.com\/dcbu56gmbe<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1493960341860061186?ref_src=twsrc%5Etfw\">February 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_bids_inch_higher\"><\/span>BTC bids inch higher<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A look at order book composition from major exchange Binance on the day revealed further encouraging signs.<\/p>\n<p><strong><em>Related:\u00a0This Bitcoin price fractal from 2018 could trap bulls, sink BTC price to $25K \u2014 analyst<\/em><\/strong><\/p>\n<p>The past 24 hours saw additional buy support opened at $43,000, along with a larger-volume support zone just below $42,000.<\/p>\n<p>At the same time, data from on-chain analytics resource Material Indicators showed sell-side orders at $45,000 were being slowly thinned out.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/c5520cf2-388d-4e4e-91da-36f2622ec4ca.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin order book data chart (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dips-before-fed-rate-hike-cues-amid-warning-over-9t-balance-sheet\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheet &#8221; Bitcoin (BTC) fell into the Wall Street open on Feb. 16 as markets held their breath over upcoming comments from the United States Federal Reserve.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: Chop then breakout &#8220;makes sense&#8221; for Bitcoin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":406405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvMWIyNWZiMTktZTJjMy00Y2NkLTk4MzUtZDA1MjdhNGNiYjI1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70550,73785],"class_list":["post-406404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-federal-reserve","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/406404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=406404"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/406404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/406405"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=406404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=406404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=406404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}