{"id":42977,"date":"2023-02-01T05:35:35","date_gmt":"2023-02-01T05:35:35","guid":{"rendered":"http:\/\/egrowonline.com\/?p=42977"},"modified":"2023-02-01T05:35:35","modified_gmt":"2023-02-01T05:35:35","slug":"bitcoin-ethereum-dogecoin-spike-ahead-of-fed-decision","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=42977","title":{"rendered":"Bitcoin, Ethereum, Dogecoin Spike Ahead Of Fed Decision"},"content":{"rendered":"


\n<\/p>\n

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Major coins traded in the green on Tuesday evening, as the global market cap rose 1.25% to\u00a0$1.05 trillion, as of\u00a08:30 p.m. EST.<\/p>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Cryptocurrency<\/th>\n

<\/p>\n

Gains (+\/-)<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

Bitcoin<\/td>\n

<\/p>\n

+1.20%<\/td>\n

<\/p>\n

$23,118<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Ethereum<\/td>\n

<\/p>\n

+1%<\/td>\n

<\/p>\n

$1,585<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Dogecoin<\/td>\n

<\/p>\n

+4%<\/td>\n

<\/p>\n

$0.094<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

What Happened:<\/strong> The largest cryptocurrency by market value,\u00a0Bitcoin <\/strong>BTC\/USD<\/span>, traded at $23,118. Ethereum <\/strong>ETH\/USD<\/span> \u00a0was changing hands at $1,585, up 1% in the last 24 hours.\u00a0Dogecoin <\/strong>DOGE\/USD<\/span> was up 4% in the last 24 hours, pushing its price up to $0.094.\u00a0<\/p>\n

U.S. equities ended higher on Tuesday as the markets awaited the Federal Reserve’s decision on a potential interest rate increase. The tech-heavy Nasdaq Composite closed up 1.6%, while the S&P 500 and the Dow Jones Industrial Average\u00a0rose an impressive 1.4 and 1%, respectively.<\/p>\n

See More<\/em>: Best Crypto Day Trading Strategies<\/em><\/a><\/p>\n

Bitcoin has started 2023 with an impressive\u00a040% gain so far. But the rally could take a hit\u00a0as Fed Chair Jerome Powell<\/strong> is expected to remain hawkish. Despite the anticipated price pullback, investors and industry experts remain optimistic that this could be just a temporary pause in the ongoing crypto bull market.<\/p>\n

Analyst Notes<\/strong>: \u201dBitcoin appears to have massive resistance at the $24,000 level, so if the rally stalls after the Fed and mega-cap tech earnings fireworks, a consolidation back towards $20,000 could happen,\u201d said Edward Moya<\/strong>, senior analyst at OANDA<\/strong>, in a note seen by Benzinga<\/strong>.<\/p>\n

\u201cWall Street is slowly growing confident that this week\u2019s Fed rate hike might end up being the last one in this tightening cycle.\u201d<\/p>\n

Crypto analyst Tone Vays<\/strong> believes that Bitcoin is likely to experience a major pullback in the short term, despite its impressive gains in January. The analyst tells his 123,000 YouTube subscribers that BTC will face some \u201cmajor, major resistance\u201d at the $25,000 mark.<\/p>\n

\u201cI have been waiting for us to hit $25,000, and it\u2019s going to be a doozy. Once we get close to $25,000, there\u2019s a very high probability of rejection\u2026 We do have room on the momentum reversal indicator, but we\u2019re about to run into a triple-headed resistance monster that is not going to be easy to break.<\/p>\n

According to Micha\u00ebl van de Poppe,\u00a0<\/strong>the crucial resistance level for Bitcoin remains at $23,300.\u00a0<\/p>\n<\/div>\n


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

Major coins traded in the green on Tuesday evening, as the global market cap rose 1.25% to\u00a0$1.05 trillion, as of\u00a08:30 p.m. EST. Cryptocurrency Gains (+\/-) Price Bitcoin +1.20% $23,118 Ethereum +1% $1,585 Dogecoin +4% […]<\/p>\n","protected":false},"author":1,"featured_media":42978,"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":[41],"tags":[1386,50,1705,85,158,1858,1760],"class_list":["post-42977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ahead","tag-bitcoin","tag-decision","tag-dogecoin","tag-ethereum","tag-fed","tag-spike"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/02\/shutterstock_1897558246.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42977","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=42977"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42977\/revisions"}],"predecessor-version":[{"id":42979,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42977\/revisions\/42979"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/42978"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42977"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}