{"id":15540,"date":"2022-05-02T05:10:25","date_gmt":"2022-05-02T05:10:25","guid":{"rendered":"http:\/\/egrowonline.com\/?p=15540"},"modified":"2022-05-02T05:10:25","modified_gmt":"2022-05-02T05:10:25","slug":"are-cryptos-about-to-shrug-off-feds-expected-rate-hike-by-benzinga","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=15540","title":{"rendered":"Are Cryptos About To Shrug Off Fed’s Expected Rate Hike? By Benzinga"},"content":{"rendered":"


\n<\/p>\n

\n
\n\"Bitcoin,
\n\u00a9 Reuters. Bitcoin, Ethereum, Dogecoin Trade Higher: Are Cryptos About To Shrug Off Fed’s Expected Rate Hike?<\/span>
\n\n<\/div>\n

continues to face resistance at the $40,000 mark and failed to cross the level over the weekend. At press time, on Sunday evening, the apex coin traded higher over 24 hours as the global cryptocurrency market cap rose 3.2% to $1.75 trillion.\u200b\u200b<\/p>\n\nPrice Performance Of Major Coins<\/p>\n\nCoin
\n24-hour
\n7-day
\nPrice
\n<\/tr>\n\n\n\n
Bitcoin (CRYPTO: BTC)<\/td>\n2.5%<\/td>\n-0.8%<\/td>\n$38,734.95<\/td>\n<\/tr>\n
(CRYPTO: ETH)<\/td>\n3.75%<\/td>\n-1.3%<\/td>\n$2,844<\/td>\n<\/tr>\n
(CRYPTO: DOGE)<\/td>\n4%<\/td>\n4.3%<\/td>\n$0.13<\/td>\n<\/tr>\n<\/table>\n\nTop 24-Hour Gainers (Data via CoinMarketCap)<\/p>\n\nCryptocurrency
\n24-Hour % Change (+\/-)
\nPrice
\n<\/tr>\n\n\n\n
Fantom (FTM)<\/td>\n+18%<\/td>\n$0.80<\/td>\n<\/tr>\n
NEAR Protocol (NEAR)<\/td>\n+15.2%<\/td>\n$12.13<\/td>\n<\/tr>\n
Harmony (ONE)<\/td>\n+14.7%<\/td>\n\u200b\u200b$0.85<\/td>\n<\/tr>\n<\/table>\n

See Also: How To Get Free NFTs<\/p>\n

Why It Matters: Cryptocurrencies remain under pressure, along with tech stocks, as the market braces itself for upcoming monetary policy action from the U.S. Federal Reserve. <\/p>\n

The Federal Open Market Committee (FOMC) is set to begin a meeting on Tuesday.<\/p>\n

\u201cBitcoin\u2019s fundamentals are starting to weaken as crypto retail and institutional interest is waning. Now that the $40,000 level seems like solid resistance for Bitcoin, crypto traders are anticipating a consolidation that could send prices towards the $37,500 level,\u201d said Edward Moya, a senior market analyst with OANDA, in a note.<\/p>\n

In intraday trading preceding Sunday evening, Bitcoin touched the $37,585.79 mark. <\/p>\n

However, investor sentiment seems to be improving. Alternative.me\u2019s \u201cCryptocurrency Fear & Greed Index\u201d indicated \u201cFear\u201d at press time. The index was showing \u201cExtreme Fear\u201d last week.<\/p>\n

Cryptocurrency analyst Micha\u00ebl van de Poppe said the Federal Reserve rate hike is \u201calready getting priced in or maybe priced in, at this point.\u201d<\/p>\n

\u201cThe majority is expecting the markets to nuke in the coming week due to the FED meeting and additional hikes,\u201d he said on Twitter (NYSE:). <\/p>\n

The majority is expecting the markets to nuke in the coming week due to the FED meeting and additional hikes.<\/p>\n

However, that expectation is already getting priced in or maybe priced in at this point.<\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) May 1, 2022<\/p>\n<\/blockquote>\n

Glassnode co-founder Rafael Schultze-Kraft said on Twitter Sunday that Ethereum users paid a median fee of $4,830 transactions in a single hour. Kraft noted that miners made $87.66 million within that window.<\/p>\n

#Ethereum miners are happy though \u2013 they made $87,664,337 within a single hour.<\/p>\n

An ATH of course, by far.https:\/\/t.co\/2OnF0m3OCl pic.twitter.com\/eChNqO2RtT<\/p>\n

\u2014 Rafael Schultze-Kraft (@n3ocortex) May 1, 2022<\/p>\n<\/blockquote>\n

At press time, the average transaction fee on Ethereum stood at $0.072 ETH or $204.40, according to BitInfoCharts.<\/p>\n

Read Next: Elon Musk Laughs At Warren Buffett: What Did The Oracle (NYSE:) Of Omaha Say?<\/p>\n

\u00a9 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/p>\n

Read at Benzinga<\/p>\n

Read the original article on Benzinga<\/a><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Bitcoin, Ethereum, Dogecoin Trade Higher: Are Cryptos About To Shrug Off Fed’s Expected Rate Hike? continues to face resistance at the $40,000 mark and failed to cross the level over the weekend. At press time, on Sunday evening, the apex coin traded higher over 24 hours as the global cryptocurrency market cap rose […]<\/p>\n","protected":false},"author":1,"featured_media":15541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[4726,880,3242,1321,3127,830,7765],"class_list":["post-15540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-benzinga","tag-cryptos","tag-expected","tag-feds","tag-hike","tag-rate","tag-shrug"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/LYNXNPEB65083_L.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15540"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15540\/revisions"}],"predecessor-version":[{"id":15542,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15540\/revisions\/15542"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/15541"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15540"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}