btc price analysis
Bitcoin rebound to $18.4K? BTC price derivatives show strength at key support zone
Bitcoin (BTC) price lost 11.3% between Dec. 14 and Dec. 18 after briefly testing the $18,300 resistance. The move followed a seven-day correction of 8% in the S&P 500 futures after United States Federal Reserve Chair Jerome Powell issued hawkish statements after raising the interest rate on Dec. 14. Bitcoin price retreats to channel support Macroeconomic trends have been the main driver of recent movements. For instance, the latest bounce from the five-week-long ascending channel support at $16,400 has been attributed to the Central Bank of Japan’s efforts to contain inflation. Bitcoin 12-hour price index, USD. Source: TradingView The Bank of Japan increased the limit on government bond yields on Dec. 20, which are now trading at levels unseen since 2015. However, not everything has be...
