Bitcoin Downtrend Hasn't Over Yet!

[Heena Kousar]

Current week seems to be interesting for Bitcoin to see its price levels because of the upcoming FOMC meeting which will play a significant role in driving BTC price further. Agreeing to Coinpedia's point of view about the last few days, where Bitcoin registered a notable spike because of the US stock market's upward movement with nearly 3.4% profits and the S&P 500 index's increase to its maximum levels in 44 days.

Nevertheless, Bitcoin is poised to witness a bearish momentum soon after forming another top in the price chart. Can BTC Spark A Short-Term Surge?

 

[gmrcrypto]

Chart speaks but there is doubt that they drag it down further as everyone is ready to buy at cheap and the operators end up in loosing more btc

 

[Heena Kousar]

Chart speaks but there is doubt that they drag it down further as everyone is ready to buy at cheap and the operators end up in loosing more btc

Every time an FOMC meeting scheduled, the crypto market shows its wrapped mode to the community and investors, because the crypto space is highly correlated with the stock market. The crypto market usually goes on a downtrend when the dollar climbs up and vice-versa. Bitcoin recently faced rejection at $21,085 and initiated a fresh bearish trend to $20,048.