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Bitcoin (BTC) on the up again “soon”? – Key figures are negative



 "Uncanny calm" after confirmation from central bank

As data shows, Bitcoin has had an extremely disappointing Father's Day so far, with the price losing a whopping $800 in just one hour.


The crypto market leader was initially able to cope with the unpleasant confirmations from the US central bank without a noticeable downturn.


The Federal Open Markets Committee (FOMC) of the central bank confirmed today that there will initially be no deviations from the planned monetary policy measures, so the interest rate hikes will continue as planned.


The stock market has also reacted pretty coolly to the unfortunate - and unsurprising - announcement, with analyst Dylan LeClair calling it an "eerie calm."

However, the on-chain data suggests that there are initially no clear signs of a change in price development anytime soon, as noted by crypto expert Rekt Capital.


So, looking at the on-chain trading volumes, it becomes clear that neither the buyers nor the sellers are particularly active at the moment.


"In previous periods it was often the case that high selling volume was gradually followed by new buying volume, but currently we are seeing that a) selling volume is slowly and steadily declining and b) no buying volume follows declining selling volume," he said expert to consider .

Cointelegraph previously reported that the NVT Golden Cross metric, which is designed to indicate long-term highs and lows, is currently in the red, so on-chain trading volume does not appear high enough to support the $30,000 price tag justify.


Dogecoin at lowest level since April 2021

Altcoins, meanwhile, are giving a mixed picture, with market leader Ethereum ( ETH ) among the daily losers.


With the exception of May 12, ETH/USD is at a 10-month low today, May 26, at just $1,815.


“The question is can we climb back up from here and break $1,940,” van de Poppe said of the largest altcoin.


“If successful, a rally to $2,050 is possible, but if not, further losses could lie ahead,” the expert continued.

Solana ( SOL ), meanwhile, is down a whopping 10% as Dogecoin ( DOGE ) slipped back to its lowest levels since April 2021.

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