{"id":441912,"date":"2022-05-04T21:28:32","date_gmt":"2022-05-04T18:28:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next\/"},"modified":"2022-05-04T21:28:32","modified_gmt":"2022-05-04T18:28:32","slug":"bitcoin-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next\/","title":{"rendered":"# Bitcoin wobbles around $39K as Fed confirms up to 1% key rate target next"},"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-6a400bcc41896\" 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-6a400bcc41896\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next\/#%E2%80%9D_Bitcoin_wobbles_around_39K_as_Fed_confirms_up_to_1_key_rate_target_next_%E2%80%9C\" >&#8221; Bitcoin wobbles around $39K as Fed confirms up to 1% key rate target next &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next\/#Bitcoin_eerily_calm_on_Fed_statement\" >Bitcoin eerily calm on Fed statement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next\/#%E2%80%9CTighten_until_something_breaks%E2%80%9D\" >&#8220;Tighten until something breaks&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_wobbles_around_39K_as_Fed_confirms_up_to_1_key_rate_target_next_%E2%80%9C\"><\/span>&#8221; Bitcoin wobbles around $39K as Fed confirms up to 1% key rate target next &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) stayed mostly steady at $39,000 on May 4 as the U.S. Federal Reserve conformed to expectations of a 0.5% key interest rate hike.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/4d13bf7b-7f4f-4315-980f-c3864536c936.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=\"Bitcoin_eerily_calm_on_Fed_statement\"><\/span>Bitcoin eerily calm on Fed statement<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>\u00a0showed BTC\/USD exhibiting minimal fluctuation as the Fed confirmed what many assumed had already been &#8220;priced into&#8221; markets.<\/p>\n<p>In contrast to previous remarks from the Federal Open Markets Committee (FOMC), the May 4 statement did not spark major volatility on crypto markets. The most that traders had to contend with was a brief spurt to just under $39,500.<\/p>\n<p>At the time of writing, Bitcoin traded at similar levels\u00a0throughout the day.<\/p>\n<p>&#8220;With <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>ropriate firming in the stance of monetary policy, the Committee expects inflation to return to its 2% objective and the labor market to remain strong,&#8221; the FOMC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220504a.htm\">confirmed<\/a> in an official statement. <\/p>\n<blockquote><p>&#8220;In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3\/4 to 1 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee decided to begin reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities on June 1, as described in the Plans for Reducing the Size of the Federal Reserve&#8217;s Balance Sheet that were issued in conjunction with this statement.&#8221;<\/p><\/blockquote>\n<p>The scope for volatility to enter remained, however, as Fed chair Jerome Powell had yet to speak an hour after the statement&#8217;s release.\u00a0<\/p>\n<p>In anticipation of Powell&#8217;s comments, on-chain analytics resource Material Indicators argued that it still did not pay to be long BTC on shorter timeframes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Giving the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> trend the benefit of all doubts here, but note that prior bull reversals had higher bid volume and depth then we have now. If you are long, you either need a looooong term view or a tight stop. Powell speaks in 30 mins. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/MayThe4thBeWithYou?src=hash&amp;ref_src=twsrc%5Etfw\">#MayThe4thBeWithYou<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/VzE3V2kA8Q\">https:\/\/t.co\/VzE3V2kA8Q<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sp1kqDRBrz\">pic.twitter.com\/sp1kqDRBrz<\/a><\/p>\n<p>\u2014 Material Indicators (@MI_Algos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1521911783870578688?ref_src=twsrc%5Etfw\">May 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Stocks, with which crypto continues to exhibit considerable correlation, were in a buoyant mood amid an absence of surprise moves by the Fed.<\/p>\n<p>The S&amp;P 500 put in a modest bounce to trade up 0.4% at the time of writing, while the Nasdaq 100 gained a more modest 0.2%.<\/p>\n<p>&#8220;FED raising rates with 0.50%, but also starting the Quantitive Tightening from June 1st. Everything as expected, QT starts a bit later. The actual event was priced in already,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1521914406245998593\">added<\/a>\u00a0in part of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> comments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CTighten_until_something_breaks%E2%80%9D\"><\/span>&#8220;Tighten until something breaks&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Others were less comfortable with the Fed&#8217;s path.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin nervously awaits Fed as Paul Tudor Jones says &#8216;clearly don&#8217;t own&#8217; stocks, bonds<\/em><\/strong><\/p>\n<p>Analyzing the implications of the priced-in hike, economist Lyn Alden hinted that risks tended toward a new crisis-like moment when hikes would bring serious risks of their own.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">All of this is subject to adjustment based on economic and financial conditions. <\/p>\n<p>Tighten until something breaks, basically.<\/p>\n<p>\u2014 Lyn Alden (@LynAldenContact) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LynAldenContact\/status\/1521914834501128193?ref_src=twsrc%5Etfw\">May 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the topic of inflation, meanwhile, Alden <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LynAldenContact\/status\/1521881001722630144\">added<\/a> that the world had the &#8220;biggest disconnect&#8221; in inflation levels versus central bank key rates since the time of World War Two.<\/p>\n<p>The outlook for Bitcoin, as Cointelegraph reported, remains skewed to the downside before a recovery later on as stocks suffer from Fed tightening.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\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-wobbles-around-39k-as-fed-confirms-up-to-1-key-rate-target-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin wobbles around $39K as Fed confirms up to 1% key rate target next &#8220; Bitcoin (BTC) stayed mostly steady at $39,000 on May 4 as the U.S. Federal Reserve conformed to expectations of a 0.5% key interest rate hike. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin eerily calm on Fed statement Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":441913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvM2U5ODhjYmItNjU0NS00ZDc0LTlkMDgtODQ1ZmUwZjEwMmRjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70550,73785],"class_list":["post-441912","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\/441912","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=441912"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/441913"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=441912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=441912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=441912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}