A crypto businessman warns that going heavy on the stolen before the monthly U.S. interest rate decision is a definite way to lose money in crypto trade.
After the Federal Reserve’s statement Confirmed US Central Bank wishing that Leave interest rates unchanged In the range of its target between 4.25% to 4.5%, the price of Bitcoin has hardly moved, as the market is widely expected to have no change in interest rate.
However, after the Fed chair Jerome Powell said the possibility In a backlash is “not high,” despite independent economists raising one’s odds, the general crypto market has seen a uprising, leaving entrepreneurs to bet on the downside.
“A guaranteed recipe to lose money,” MN Trading Capital Founder Michael Van de Poppe Says In a post of March 19 x.
The coinglass data, which Tracks A 12-hour window, shows $ 188.77 million liquid from the crypto market, with $ 127.80 million of short positions.
Approximately $ 257.03 million in short positions has been lying in the past 24 hours. Source: Coinglass
Bitcoin (Btc) climbed 3.84% to six hours after Powell’s speech hit $ 87,427 before pulling back to $ 85,760 by publishing. Ether (Eth) climb to 2.27% at the same period, while the XRP (XRP) earned 2.40%, adding to the 7.50% rally leading to an interest rate announcement, According to In CoinMarketCap data.
“The preliminary statement is not important. The words from J. Powell are,” said Van de Poppe, and added, “That is likely to refer to Bitcoin price action for the coming season.”
Bitcoin reached 3.49% in the past 24 hours. Source: CoinMarketCap
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Crypto analyst said the Bitcoin rally would not continue in the near term
Crypto trading account bitcoinhyper Says“The FOMC meeting made a Bitcoin bomb directly to the large degree of extermination.”
“Although BTC is higher, it is not a good level to look for new long positions,” the trade account told.
Matt Mena, a crypto research strategist at 21shares, has created a similar forecast, saying that while the “Dovish Shift” of the US Federal Reserve can provide Bitcoin with a short -term strengthening, it may not be maintained.
“Bitcoin is likely to remain in integration mode until a clear catalyst emerges,” Mena said. “Still looking forward, the wider MacRO environment remains to support a bullish case for the BTC,” Mena said in a statement viewed by Cointelegraph.
According to Powell, the median forecast from FOMC members is that interest rates are at 3.9% by the end of 2025 and 3.4% by the end of 2026.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
