The Federal Reserve has raised interest rates for the first time since 2018 in a bid to begin curbing inflationary pressures it blames on supply and demand imbalances and rising energy prices. The U.S. central bank hiked its target range for the federal funds rate by 0.25 basis points and anticipates further, ongoing increases in future meetings, according to a Wednesday statement by its Federal Open Markets Committee (FOMC). The committee met over the past two days to discuss strategies the Fed could take to bring inflation back within its 2% target range as the metric has stayed far above that goal for over a year, soaring past 40-years-high levels. In addition to raising interest rates, the Fed will also begin shrinking its balance sheet as it plans to announce specific measures for reducing its asset holdings in the next meeting, Fed Chair Jerome Powell said in a press conference following the release of the FOMC statement. Powell explained that the committee is confident that the U.S. economy will withstand less accommodative monetary policies as it is currently “very strong.” However, the chairman highlighted how the current Russian-Ukrainian war can lead to even greater inflationary prices over the short-term. “We expect inflation to return to 2%…but it is likely to take longer than previously expected,” Powell said. “No one knows with any certainty where the economy will be one year or more from now.” Powell explained that in his view, it isn’t likely that the U.S. enters a financial depression as FOMC participants continue to foresee growth and low unemployment rates. Bitcoin spiked above $40,000 as the Federal Reserve announced it would hike interest rates and shrink its balance sheet. The peer-to-peer currency had been consolidating below that level for nearly a month with momentary spikes in the daily chart. It is unclear whether the level will hold. In addition to Bitcoin, the Nasdaq and the S&P 500 indices have also turned green to score gains above 2% at press time. While assets perceived as riskier in the minds of investors, including growth stocks and bitcoin, tend to bleed as monetary policies tighten up, the FOMC statement came in line with expectations, shedding fears that a more hawkish set of policies could have been announced instead.

  The United Kingdom’s Financial Conduct Authority (FCA) is seeking senior executives with cryptocurrency-related expertise as the regulator is preparing to launch a new crypto department to regulate the industry. According to FCA’s job postings on LinkedIn, the authority is now hunting for a head of the digital assets department and a director of the payments and digital assets department. Both job postings target the crypto savvy. Published on Monday on LinkedIn, FCA’s head of digital asset job posting targets a candidate who will be accountable for leading the authority’s approach to regulatory operations within the crypto industry across the United Kingdom. The new position is also expected to help the FCA have a “single narrative on crypto,” the posting notes. The new role is part of FCA’s plan to establish a dedicated department for crypto, the announcement notes, stating that the new position will be crucial for the regulator’s crypto supervision efforts: “We are looking for a head of department to build and lead a new crypto department that will lead and coordinate the FCA’s regulatory activity in this emerging market. This is a critical leadership role within a proposed new directorate dealing with emerging business models […]” The FCA will be accepting applications for this position until April 3, 2022, according to the posting. In another job announcement posted last week, the FCA is also looking for a payments and digital assets department director. The scope of the role initially includes responsibility for policy and supervision related to payments, e-money and crypto assets, as well as other emerging business models across the financial services industry. The position requires experience and knowledge of the relevant regulatory environment including issues associated with cryptocurrencies and payment firms. The FCA’s efforts to set up a new dedicated crypto regulation unit come amid the regulator growing increasingly concerned about the supervision of the cryptocurrency industry recently. Last week, the FCA issued an order to shut down operators of Bitcoin (BTC) ATMs in the country as part of its efforts to curb money laundering. The authority also reiterated last Friday that all United Kingdom-based financial services firms including crypto businesses are expected to ensure compliance with sanctions against Russia. The regulator has been actively regulating the industry before as well though. Earlier in March, the FCA officially announced that it opened more than 300 cases on unregistered crypto firms over a period of six months, launching 50 active investigations against unregistered crypto businesses. The FCA reportedly received 6,372 alerts about suspected crypto frauds in 2021, up from 3,143 the year before.

  Bitcoin has shown itself to be wanting yet again, at the first signs of geopolitical problems. Furthermore, there is some noise coming out of Canada that Bitcoin wallets have been seized by the Canadian government. If that is in fact the case, it for the most part wipes out the entire argument of “being out of the system.” While I think it is a little early to call the end of crypto in general, the reality is that Bitcoin is an ever evolving narrative that seems to shift with the breeze. Advertisement Test out this trade suggestion with a top-rated BTC/USD broker Get Started All of that being said, it looks like we are heading towards the $40,000 level. That is an area that is significant support and if we break down below there it opens up the possibility of a move towards the $36,000 level where we had bounced from previously. Anything below that opens up the possibility of a move to the $30,000 level, and possibly even kicking off “crypto winter”, when markets do nothing for quite some time and languish at lower levels. In that scenario, Bitcoin could find itself down at $20,000 rather quickly. The last time this happened, Bitcoin found itself near $3300. I do not necessarily think that is what is going to happen, but it certainly should be noted that the 50 day EMA has been a bit like a “brick wall” for the market. This is not a good look for Bitcoin, because it was supposed to be safety from all of the nonsense. It clearly behaves like any other financial asset that is on the risk curve. Bitcoin gets dumped rather quickly in times of concern or tightening financial conditions, because most of the big money uses it as a speculative asset, and nothing more than that. This is a great lesson in “this time it is different” being a farce. What you really need to see for Bitcoin to start rallying again is some type of risk appetite reentering the market. We clearly do not have that right now, and with all of the nonsense going on at the Ukrainian border, I do not know that we are going to get it anytime soon. Again, I am not necessarily calling for a meltdown, but I am pointing out that the downtrend is still intact as things stand right now.

  Bitcoin (BTC) has been relatively calm during the weekend, indicating that traders are playing it safe and not waging large bets before the upcoming Federal Open Market Committee meeting on March 15 and March 16. The quantum of the rate hike could act as the next trigger for the crypto markets. The current neutral setup of Bitcoin has kept the analysts guessing. Analytics resource material indicators warned that Bitcoin could plunge. However, they advised investors to be ready to buy the dip as they believe that the “bounce can change your life.” A Price Waterhouse Coopers‘ Sports Outlook 2022 report for North America highlighted three use cases for nonfungible tokens, or NFTs, which could shape the future of sports. The consultancy believes that NFTs and digital assets are among the ten major trends in the sports industry. Could the crypto markets start a directional move in the near term? Let’s study the charts of the top-five cryptocurrencies that may participate in a rally if the bullish sentiment picks up.

  Bitcoin (BTC) bulls jumped in to defend the $40,000 level after a devastating retest of the $38,000 support on March 7. The confidence and momentum that was building up earlier in the month was suddenly shattered after BTC failed to break $44,500 for the third time this month on March 2. The Bitcoin price rally on March 9 has been partially attributed to this week’s expected United States inflation data report. Analysts expect another 40-year record high as the consumer price index (CPI) reaches 7.9% yearly gains. Furthermore, a statement from the U.S. Treasury Secretary Janet Yellen regarding President Biden’s executive order on digital assets was somewhat milder than expected. Although deleted from the U.S. Department of the Treasury website as it was seemingly released early by error, the order will apparently call for “a coordinated and comprehensive approach to digital asset policy.” The commodities rally was a presage for Bitcoin’s hike Considering that Bloomberg Commodities Index (BCOM) reached an all-time high of 134 on March 8, Bitcoin’s recent strength should not come as a surprise. Despite correcting to 129, the BCOM gains accumulated in 30 days remain at 18.5%, according to MarketWatch. According to the open interest on Friday’s options expiry, Bitcoin bulls placed heavy bets between $44,000 and $48,000. These levels might seem optimistic right now, but Bitcoin tested this level eight days ago. A broader view uses the call-to-put ratio and shows a 40% advantage to Bitcoin bulls, as the $460 million call (buy) instruments have a larger open interest versus the $330 million put (sell) options. However, the 1.40 call-to-put indicator is deceptive because most bullish bets will become worthless. For example, if Bitcoin’s price remains below $43,000 at 8:00 am UTC on March 11, only $190 million worth of those call (buy) options will be available. This effect happens because there is no value in the right to buy Bitcoin at $44,000 if it’s trading below that level. Bulls could pocket $140 million at $42,000 Below are the three most likely scenarios based on the current price action. The number of options contracts available on March 11 for bulls (call) and bear (put) instruments varies depending on the expiry price. The imbalance favoring each side constitutes the theoretical profit: Between $40,000 and $42,000: 2,600 calls vs. 2,100 puts. The net result is balanced between call (bull) and put (bear) options. Between $42,000 and $43,000: 4,500 calls vs. 1,150 puts. The net result favors bulls by $140 million. Between $43,000 and $44,000: 5,100 calls vs. 700 puts. The net result favors the call (bull) instruments by $190 million. This crude estimate considers the call options used in bullish bets and the put options exclusively in neutral-to-bearish trades. Even so, this oversimplification disregards more complex investment strategies. For instance, a trader could have sold a call option, effectively gaining a negative exposure to Bitcoin above a specific price. Unfortunately, there’s no easy way to estimate this effect. Bears need BTC price below $42,000 to balance the scales Bitcoin bulls need to hold $42,000 to score a $140 million profit on March 11. Furthermore, a mere 2% price hike from the current $42,200 level is enough for Bitcoin bulls to secure a $190-million gain on Friday’s options expiry. Bears will face difficulty suppressing the price given the short-term positive sentiment of inflation expectations and lessened pressure from regulators. Currently, options markets data favor the call (buy) options. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

  Bitcoin (BTC) reversed in classic fashion on March 10 after bulls failed once again to hold higher levels. Bart‘s back on the Bitcoin chart The pair had managed to pass $42,000 before consolidating, but a lack of support meant that a drop back to its previous trading zone below $40,000 was the grimly familiar outcome. Such Bart formations had come several times in the weeks prior and underscored the difficulty experienced by a market stuck firmly in an established trading range for months. Those hoping for upside continuation were thus left disappointed with cross-crypto liquidations for the 24 hours to the time of writing totaling $211 million, according to data from analytics resource Coinglass. “Fried bulls this morning,” popular trader Crypto Ed, who had called the end of the upside at Wednesday’s highs, told Twitter followers. “This is not PA but PP Ping Pong And yes, Asians always been good in Ping Pong,” he added, referring to both the up and down slopes of the “Bart” occurring during Asian market hours. March 10, meanwhile, would see the release of U.S. consumer price index (CPI) data for February, this tipped to show inflation still running hot at an estimated 7.9% year-on-year. “CPI number comes out tomorrow & the FOMC meeting is in less than a week (March 15 & 16),” trader and analyst Matthew Hyland forecasted in part of a March 9 tweet. “I expect volatility ahead, but increased certainty as a result.” An accompanying chart underlined key resistance levels for BTC/USD to overcome along with support at $36,300 and $33,000. Altcoins in copycat U-turn Bitcoin’s volatility likewise cost altcoins much of their latest gains, with Ether (ETH) down 5.1% to less than $2,600. Many others out of the top ten cryptocurrencies by market cap were equally gloomy on the day, with previous high flyer Terra (LUNA) nonetheless managing to linger near

  Volatility and choppy price action continued to dominate the cryptocurrency market on March 7 as news that United States President Joe Biden plans to sign an executive order later this week. This outline for the government‘s strategy for cryptocurrencies was added to the list of factors weighing down crypto prices.  Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) bulls were thwarted in an attempt to regain support at $40,000 on Monday as revelations about the upcoming executive order and the ongoing conflict in Ukraine tanked the market and dropped BTC to a low of $37,155. Here’s what several analysts in the market are saying about the outlook for BTC and whether or not crypto traders should prepare for an extended bear market. Are there signs of capitulation? A bearish perspective for the current price action was outlined by crypto trader and pseudonymous Twitter user ‘Crypto Tony’ who posted the following chart, outlining the potential for a capitulation into the low $20,000s for BTC if the current support levels break down. “Unless we start claiming some important supply zones, then this is something that must be considered. This choppy B wave will catch many off guard.” Looking for a bounce at $36,000 A more optimistic take on the current weakness was offered by analyst and Cointelegraph contributor Michaël van de Poppe, who posted the following chart outlining a possible pullback in BTC price to the low $36,000 range. “Well, Bitcoin is correcting still after a rejection at $39,200. Assuming we‘re going to take the low for some liquidity before we have a chance of some upwards momentum.” Technical evidence that the BTC price could soon mount a recovery was highlighted by crypto trader and host of The Wolf of All Streets podcast Scott Melker, who posted the following chart noting that “My favorite signal is present — bullish divergence with oversold RSI on the 4-hour chart.” “That said, price really needs to get above the $39,600 to avoid hidden bearish divergence, so it’s really hard to get too excited. These divs can build quite a bit.” BTC can avoid a bear market above $29,000 An attempt to put those concerned with the possibility of a bear market at ease was made by crypto analyst and pseudonymous Twitter user ‘Plan C’ who posted the following chart and suggested that “people need to stop spreading misinformation.” “Bitcoin is NOT in a bear market. Above 29k = Mid-Cycle Accumulation. Below 29k = Bear Market. Since when do we put in a higher high and higher low in a bear market? This is crypto, traditional TA definitions of a bear market ( The overall cryptocurrency market cap now stands at $1.685 trillion and Bitcoin’s dominance rate is 42.3%. 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.

  Bitcoin remained under the $40,000 level on Sunday, as bears continued to pressure cryptocurrency markets. This pressure also kept ethereum lower, with the world’s second-largest crypto hovering around its long-term support level. Bitcoin Sunday saw the price of bitcoin (BTC) trade lower for a fifth consecutive session, as it was unable to shake off recent bearish pressure. BTC/USD fell to an intraday low of $38,211.65 on Sunday, which was around $500 lower than its bottom to start the weekend. Today’s move sees BTC fall to its lowest point since February 28, and is fast approaching its long-term floor of $37,600. Bitcoin, Ethereum Technical Analysis: ETH Prepares for Rally, While BTC Seeks Support BTC/USD – Daily Chart As a result of recent declines in price, mid-term momentum in the market has shifted, with the 25-day (blue) moving average crossing below the 10-day (red) MA. This is the first time since December 27 that we have seen such a cross, with the 25-day crossing below the 10-day from an upwards position. Such a shift in momentum could signal even more declines in price in upcoming sessions. Ethereum Although ethereum (ETH) was also lower on Sunday, its decline appeared to look more like consolidation than an actual selloff. Following a low of $2,587.75 on Saturday, ETH/USD had a bottom of $2,595.57 during today’s session thus far. This shows that prices are somewhat climbing, despite the onslaught of bearish action currently taking place in crypto markets. Bitcoin, Ethereum Technical Analysis: ETH Prepares for Rally, While BTC Seeks Support ETH/USD – Daily Chart A reason why we could be seeing this from ethereum and not bitcoin (BTC), is that currently the $2,550 support in ETH/USD seems well defined, as bitcoin still looks to be in search of its floor. Looking at the chart, the same can be said for the 14-day Relative Strength Index, which also has found support at 41.80, helping to give bulls a firm ground on which to stand on with potential future positions.

  Following Tuesday’s price surge, bitcoin was trading lower during today’s session, as markets hit a key resistance point. This comes as ETH was once again trading below the $3,000 level. As of writing, the crypto market cap is down 1.87%. Bitcoin BTC bulls ran into a stumbling block on Wednesday, as traders appeared to once again short the world’s largest cryptocurrency. Following a high of $44,793.60 yesterday, BTC/USD hit an intraday low of $43,307.96 earlier in today’s session. BTC is down 2.42% on the day, as of writing, and is currently trading at $43,637.72, with the 14-day RSI tracking at 58.7. Looking at the chart, Wednesday’s move occurred after BTC failed to break out of the $44,870 resistance level, which has historically been a point where bears entered. Bitcoin, Ethereum Technical Analysis: BTC Surge Stalls at Key Resistance Level BTC/USD – Daily Chart Similar to February 16, these bears halted the bullish onslaught, with many now expecting yet more consolidation from bitcoin. Price strength has also begun to trend in a downward direction, as the RSI ceiling of 62 held firm to start the week. If we are set for further consolidation, the floor of $42,120 could be the next price target for sellers. Ethereum Following a breakout from its own resistance level on Tuesday, the price of ETH was marginally lower on Wednesday, as it now trades below $3,000. Earlier in today’s session, ETH/USD hit a three-week intraday high of $3,045. However, these gains were short lived. As of writing, ETH has since dropped to a low of $2,907.46, as yesterday’s move has matured into a false breakout. ETH/USD – Daily Chart Should this bearish pressure continue to extend throughout the rest of the session, bears will likely be looking at taking ethereum back below $2,880. Relatively speaking, the prospects for bulls targeting $3,200 does remain, however, any further declines could lessen these chances, as prices will likely continue to consolidate.

  Veteran investor Mark Mobius, the founder of Mobius Capital, explains why the price of bitcoin is rallying as the Russia-Ukraine crisis deepens. “Bitcoin is showing strength now because the Russians have a way of getting money out,” he said. Mark Mobius on Why Bitcoin’s Price Is Rising The founder of Mobius Capital Partners, Mark Mobius, explained why the price of bitcoin has been rallying in an interview with CNBC Tuesday as the crisis between Russia and Ukraine escalates. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios. He founded Mobius Capital Partners in March 2018. Mobius was asked whether he would buy bitcoin in this environment since the price of BTC is rallying. “I would not be a buyer,” he replied but noted, “If I was a Russian, I would be a buyer.” He proceeded to share that in Dubai where he lives, a lot of foreigners come to buy properties. He detailed: “I was talking to a property agent yesterday. He said they’ll buy anything. They get money out of Switzerland, they have Swiss bank accounts.” Mobius added: “If they can pay with bitcoin. Of course, that’s an avenue to get money out of Russia.” He continued: I would say that’s the reason why bitcoin is showing strength now because the Russians have a way of getting money out, of getting their wealth out. “Otherwise they are really in trouble with all the closures of different avenues for them to transfer money out,” the veteran investor opined. Mobius has long been a bitcoin skeptic. In November last year, he advised people not to look at cryptocurrencies as a means to invest. “It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day,” he advised. A number of analysts have said they doubt cryptocurrencies can help Russia evade sanctions. Ari Redbord of TRM Labs, for example, explained on CNBC Monday that while Russia will turn to cryptocurrencies, there is not enough liquidity in those markets to allow Moscow to deal with the heavy sanctions imposed by the U.S. and its allies.