Coin Telegraph

Content Creator at Coin Telegraph

The Bitcoin price is currently defending the $28,000 support level and has yet to recover the $29,200 level. While some analysts attribute the recent downtrend to the expected interest rate increase by the Federal Reserve, the market is already pricing in a 92% probability of a 25-basis-point increase. Fed Chair Jerome Powell's comments in his press conference are likely to bring surprise elements. A Bitcoin breakthrough above $30,000 could signal a shift in perception from Bitcoin as a risk asset to a scarce digital asset. The Bitcoin futures premium has stagnated near 2% since April 23, suggesting a healthy market with buyers avoiding leveraging. The balanced demand between call and put...