Home » Bitcoin bulls remain optimistic, but macro and crypto-specific headwinds lock the asset below $30,000 By CoinTelegraph

Bitcoin bulls remain optimistic, but macro and crypto-specific headwinds lock the asset below $30,000 By CoinTelegraph

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Bitcoin bulls remain optimistic, but macro and crypto-specific headwinds lock the asset below $30,000 By CoinTelegraph
© Reuters Bitcoin bulls remain optimistic, but macro and crypto-specific headwinds lock the asset below $30,000

The price of (BTC) reclaimed the $28,000 support on March 23 after a short correction below $27,000. The move matched the traditional financial sector, especially the tech index, which gained 2.1% as Bitcoin cleared the $28,000 mark.

On March 22, the Federal Reserve raised its key interest rate by 0.25%, but hinted that it was close to a 2023 high. Ultimately, however, Fed Chairman Jerome Powell said it was too early to determine the extent of the tightening of credit conditionsso monetary policy will remain flexible.

Initially, the fact that the central bank is less inclined to raise the cost of borrowing seems encouraging. However, global economies are showing signs of stress. For example, consumer confidence in the euro area fell by 19.2% in March, reversing five consecutive months of increases and defying economists’ forecasts for an improvement.

Read the full text on Cointelegraph

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