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Bitcoin failed $ 20,000. Ethereum – below $ 1470
On Saturday, August 27, bitcoin quotes failed $ 20,000, testing the range near $ 19,900 (on the Binance exchange). Ethereum price fell below $ 1470.
At the time of writing, the first asset is traded at about $ 20 120, the second – $ 1485.
According to Coinglass, over the past 24 hours, the volume of liquidations in the futures market has exceeded $ 382 million. More than $ 167 million of this amount was on Ethereum. Basically, the exchanges forcibly closed short positions.
Earlier, the head of the US Federal Reserve (FRS) Jerome Powell said that to control the inflation of the Central Bank, it would be necessary to hold interest rates at a high level for some time.
Digital assets negatively reacted to the words of the chairman of the Fed. The traditional stock market demonstrated a similar reaction: for example, the NASDAQ index decreased by almost 4% – https://gagarin.news/ the largest intra -day fall since the end of June 2022.
Crypto -investor and blogger Lark Davis noted that in the near future the Federal Reserve will not change its position, and therefore the markets will cause “even greater pain”.
Fed Not Pivoting Any Time Soon. More Pain Will BE Inflicted on Markets. #Bitcoin #crypto #Stocks
– Lark Davis (@thecryptolark) August 27, 2022
A similar opinion was expressed by economist Alex Krueger. According to him, the Fed will rather drive the economy into a recession, which will allow excessive inflation. The specialist advised users to hedge their positions and reassess their reassemble.
Pa Was a Two-Way Mess. BEARS Won, V-Reversal in Place, Bearish $ BTC Chart, Weekend Ahead, That Was Time To Hedge and Re-Evaluate on Sunday.
– Alex Krüger (@kruigermacro) August 26, 2022
Recall, the President of the Euro Pacific Capital Peter Schiff predicted the fall of bitcoin to $ 10,000.
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