The crypto market ended the week mixed, with Bitcoin trading near $26,400 while several altcoins recorded double-digit gains as all eyes now look to next week’s Fed meeting.
- It was a subdued end to the trading week for the crypto market with prices largely trading sideways as investors turn their sights towards next week’s Fed meeting, where the central bank is expected to hold interest rates at the current levels.
Data provided by TradingView shows that Bitcoin’s price slid lower throughout trading on Friday, declining from a high of $26,730 in the early morning to a low of $26,215 in the afternoon before bulls managed to push it back above $26,400.“September Bitcoin futures prices [were] near steady in early U.S. trading Friday,” according to Kitco senior technical analyst Jim Wyckoff, who noted that “Prices have seen a decent rebound after hitting a six-month low Monday.
Poppe said that August and September are usually rough periods for the crypto market, and if the 2015 price action is repeating itself, the worst may now be behind us “as we’re passing the first half of September.” While Poppe is hopeful that BTC can hold above its 200-week EMA, which would signal further gains from here, market analyst Crypto Tony posted the following chart warning about a “max-pain” scenario that could see the top crypto briefly dip back below $25,600.This is a situation i think would blow up Crypto Twitter if we did get it. Weekends provide low liquidity, so big moves can certainly happen with ease pic.twitter.
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