FOMC

Jerome Powell

Bitcoin

Spot

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bitcoin-tops-35k-as-powell-goes-less-hawkish-after-fomc/">Bitcoin Tops $35K As Powell Goes Less Hawkish After FOMC</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
With the U.S. Federal Reserve’s Federal Open Market Committee keeping the Fed funds rates at a steady level between 5.25%-5.50%, Bitcoin skyrockets and tops the $35K barrier. Following the FOMC, Fed Chairman Jerome Powell keeps a slightly hawkish viewpoint for the future. Moreover, Powell highlighted the rising U.S. Treasury yields have been a key reason for tense financial situations.&nbsp;
DTCC explains that the ticker code appearing is common for any potential ETF and clears the mist around approval. Nevertheless, with such an impulsive wave, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price prediction</a> suggests an uptrend to the $40K mark soon.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34-1024x481.png" alt="" class="wp-image-241410" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/02101916/BTCUSD_2023-11-02_10-01-34.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Following the rounding bottom breakout, the BTC price kept struggling to cross the strong supply at the $35K barrier. The 37% jump in Bitcoin price to reach $35K led to a sideways shift with long-range candles for more than a week.&nbsp;
However, the recent FOMC meeting revealed a less hawkish stand of the Feds, resulting in a boost in investors’ confidence. With a fresh breath of relief, the BTC price jumped by 2.25% last night.&nbsp;
Currently, the BTC price trades at $35,530 with an intraday growth of 0.28% as it struggles to sustain the bullish momentum. Nevertheless, the improving sentiments can drive the breakout rally with the unleashed trapped momentum.&nbsp;
Technical indicators:
MACD: The MACD line avoids a bearish crossover and may soon regain the bullish trajectory. Further, the positive histograms are on the rise.
EMA: The 50-day and 200-day EMAs keep a positive move. Moreover, a golden cross is visible in the 50-day and 200-day Simple Moving Averages, increasing the bull run possibility.&nbsp;
<h2 class="wp-block-heading" id="h-will-bitcoin-touch-40k-before-2024">Will Bitcoin Touch $40K Before 2024?</h2>
As the FOMC meeting brings a new bull run in Bitcoin prices, the overpowering bulls are starting a fresh rally. Further, the anticipations of a Bitcoin Spot ETF remain a catalyst to keep the bulls ready for a fresh sprint.&nbsp;
Considering the uptrend sustains above the $35,000 mark, the $40,000 will be the next pitstop for Bitcoin. Conversely, the BTC price may retest the $31K mark if the prices fall under $35K.

Bitcoin Tops $35K As Powell Goes Less Hawkish After FOMC

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