Bitcoin faces another week of massive macro announcements after its lowest weekly close since July. At the time of writing, Bitcoin is trading at $18,500 and is not doing well. The Federal Reserve may send Bitcoin towards a new local low this week.
Federal Reserve launches wrecking ball
Rumors are mounting that the US Federal Reserve will raise interest rates by 1 percent this week. If it is up to the market, that increase has a chance of 19 percent, but yesterday that percentage was still 15. The chance of a 1 percent increase has therefore increased in recent hours. It is a harsh reality that hits Bitcoin as the price has made quite a slip last night.
Where Bitcoin records a minus of 7.74 percent and thus comes out at about $ 18,500, Ethereum even has to write a minus of 10.95 percent. For example, after the Merge, Ethereum hangs at a price of $ 1,294 and confidence in the market seems to be completely gone for a while. If the Federal Reserve actually goes through the 1 percent wrecking ball, it would be the largest rate hike since the early 1980s.
