Bitcoin’s (BTC) price has been steadily going up, and it is now trading above $23,000. Because of this, the total value of all cryptocurrencies on the market has gone up. It is now worth $1.05 trillion, which is 0.91% more than it was the day before.
Even so, traders don’t seem to want to make any big deals before the US Federal Reserve says something. This post will talk about the current US Federal Open Market Committee (FOMC) and Fed rate, but it will also focus on predicting the value of bitcoin and the price of ether.
Since the beginning of the year, the cryptocurrency markets have been steady and flashing green. This may be because of the Federal Reserve’s possible “dovish” stance.
Along with the upcoming interest rate hike by the Federal Reserve, DekaBank and Metaco’s plan to start selling digital assets to institutions will have a big effect on the crypto market.
Bitcoin Price Today DATE: BTC USD Today: $ 22,997.95 Bitcoin Price Prediction
One bitcoin costs $22,993.90, and yesterday there were transactions worth $22 billion. It is now worth $443 billion, which puts it in first place. Its market value has gone up by 0.25% in the last 24 hours.
Related: The BTC price prediction for today, January 25, 2023, is:
As the market waits for the Federal Open Market Committee and Federal Reserve to announce their decisions about interest rates, bitcoin is traded on a 4-hour time frame with no clear bias. But the $23,300 level continues to be a big problem for the pair. If this level is broken, the BTC/USD pair could move to the next resistance zone at $23,920.
The 50-day simple moving average also shows a selling trend, and leading technical indicators like the RSI and MACD are in a sell zone.
Sellers who break through this level may be able to sell until $22,350. On the other hand, a rising trendline is likely to keep Bitcoin from falling below $22,750.
