{"id":529451,"date":"2023-05-02T08:30:34","date_gmt":"2023-05-02T08:30:34","guid":{"rendered":"https:\/\/wncen.com\/?p=529451"},"modified":"2024-06-11T08:11:29","modified_gmt":"2024-06-11T08:11:29","slug":"bitcoin-market-update-up-or-down-whats-next","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/","title":{"rendered":"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?"},"content":{"rendered":"<p>Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. After Bitcoin failed again at the $30,000 level on Sunday as part of a &#8220;weekend pump,&#8221; the bears are pushing towards $27,000.<\/p>\n<p>As of press time, Bitcoin was hovering around $28,000, having already tested key support at $27,800 yesterday evening (EST). The long-term trend continues to be clearly in favor of the Bitcoin bulls, for which a price above $25,000 speaks.\u00a0However, in the short term, the key is to defend the $27,800 level to avoid a deeper correction to $25,000, as also indicated by analyst XO.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"qme\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/t.co\/OKS791fYEi\" rel=\"nofollow\">pic.twitter.com\/OKS791fYEi<\/a><\/p>\n<p>&mdash; XO (@Trader_XO) <a href=\"https:\/\/twitter.com\/Trader_XO\/status\/15797764?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin Remains In Trading Range<\/h2>\n<p>For technical analyst Micha\u00ebl van de Poppe, founder of Eight Global, breaking through $28,400 on the shorter time frame is the trend-setting price level. &#8220;Breaking through $28.4K and we could be back to $30K in a few days. Not breaking and folding coming days, $25K next. Big volatility on the horizon,&#8221; the analyst warns.<\/p>\n<p>However, the current weakness that Bitcoin is displaying with hovering around $28,000 could be an indication that another sweep of the lows is needed to generate new upside momentum. &#8220;Still eyeing $27.8K for a potential long here, or a break and flip of $28.4 for Bitcoin,&#8221; van de Poppe <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/49823519\" target=\"_blank\" rel=\"noopener nofollow\">notes<\/a>.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-holds-at-29300-as-pce-comes-out-neutral\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Holds At $29,300 As PCE Comes Out Neutral<\/a><\/div>\n<p>Glassnode co-founders Yann Allemann and Jan Happel write in their latest analysis that Bitcoin&#8217;s April monthly close was a major sign for the bulls. BTC closed in green for the fourth consecutive month. According to the analysts, the short-term trading channel is between $27,000 &#8211; $29,200.<\/p>\n<blockquote><p><strong>[B]ut we are confident that we will be over $30k in no time. Our thesis solidifies the longer we&#8217;re above the highly active $28 &#8211; $28.2k level. Notice the large horizontal bar.<\/strong><\/p><\/blockquote>\n<figure id=\"attachment_529454\" aria-describedby=\"caption-attachment-529454\" style=\"width: 2286px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-529454 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?resize=2286%2C1037\" alt=\"Bitcoin price range\" width=\"2286\" height=\"1037\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=2286 2286w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/c2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-529454\" class=\"wp-caption-text\">Bitcoin trading range | Source: <a href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc2259773-1924-42fa-a6e7-d62067b62c41_2286x1037.png?utm_source=substack&amp;utm_medium=email\" target=\"_blank\" rel=\"noopener nofollow\">Swissblock Insights<\/a><\/figcaption><\/figure>\n<h2>All Eyes On The Fed<\/h2>\n<p>Key to the price action in the coming weeks may be the FOMC meeting tomorrow, Wednesday, and the subsequent press conference by Fed Chairman Jerome Powell. The market expects a final hike of 25 basis points. This will put the U.S. benchmark interest rate at the same level as before the financial crisis in 2007.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-is-crashing-but-why-are-transactions-at-new-all-time-highs\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Is Crashing, But Why Are Transactions At New All-Time Highs<\/a><\/div>\n<p>However, the decision is likely to be priced in already. More important will be the FOMC press conference at 2:30 pm EST, when Powell will give his remarks for the coming months.<\/p>\n<p>The market will be hoping for a comment from Powell that this was the last rate hike and that the first rate cuts will come later this year (very unlikely). The focus will also be on Powell&#8217;s comments on the banking crisis and how the credit crunch is intensifying.<\/p>\n<p>Most likely, Powell will play both sides, as he did at the March FOMC meeting. Comments such as &#8220;inflation is not quite where we want it to be,&#8221; &#8220;monitoring developments in the banking sector,&#8221; and &#8220;data dependence&#8221; are virtually guaranteed. On the bullish side, Powell could signal a pause in June and leave a door open for rate hikes if data grants it.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Lol &#8230; volatile day coming tomorrow, and perhaps a decisive trend setter for the coming weeks. The start of a new <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> rally? <a href=\"https:\/\/t.co\/Dd8FWOjsDa\" rel=\"nofollow\">https:\/\/t.co\/Dd8FWOjsDa<\/a><\/p>\n<p>&mdash; Jake Simmons (@realJakeSimmons) <a href=\"https:\/\/twitter.com\/realJakeSimmons\/status\/60162816?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, Bitcoin was trading at $28,100, below the mid-range after rejecting at the range high again. Until the FOMC decision, it seems rather unlikely that BTC will make a major move unless there is another short or long squeeze due to the madness in the futures market. A recapture of the upper range would be a bullish sign going into the FOMC.<\/p>\n<figure id=\"attachment_529471\" aria-describedby=\"caption-attachment-529471\" style=\"width: 3625px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-529471 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?resize=3625%2C1672\" alt=\"Bitcoin price\" width=\"3625\" height=\"1672\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=3625 3625w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/BTCUSD_2023-05-02_10-15-54.png?w=3000 3000w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-529471\" class=\"wp-caption-text\">BTC price, 2-hour chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/MdwJoSFi\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from iStock, chart from TradingView,com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. After Bitcoin failed again at the $30,000 level on Sunday as part of a &#8220;weekend pump,&#8221; the bears are pushing towards $27,000. As of press time, Bitcoin was hovering around $28,000, having already tested key support at $27,800 yesterday evening (EST). The long-term trend continues to be clearly in favor of the Bitcoin bulls, for which a price above $25,000 speaks.\u00a0However, in the short term, the key is to defend the $27,800 level to avoid a deeper correction to $25,000, as also indicated by analyst XO. $BTC pic.twitter.com\/OKS791fYEi &mdash; XO (@Trader_XO) May 1, 2023 Bitcoin Remains In Trading Range For technical analyst Micha\u00ebl van de Poppe, founder of Eight Global, breaking through $28,400 on the shorter time frame is the trend-setting price level. &#8220;Breaking through $28.4K and we could be back to $30K in a few days. Not breaking and folding coming days, $25K next. Big volatility on the horizon,&#8221; the analyst warns. However, the current weakness that Bitcoin is displaying with hovering around $28,000 could be an indication that another sweep of the lows is needed to generate new upside momentum. &#8220;Still eyeing $27.8K for a potential long here, or a break and flip of $28.4 for Bitcoin,&#8221; van de Poppe notes. Related Reading: Bitcoin Holds At $29,300 As PCE Comes Out Neutral Glassnode co-founders Yann Allemann and Jan Happel write in their latest analysis that Bitcoin&#8217;s April monthly close was a major sign for the bulls. BTC closed in green for the fourth consecutive month. According to the analysts, the short-term trading channel is between $27,000 &#8211; $29,200. [B]ut we are confident that we will be over $30k in no time. Our thesis solidifies the longer we&#8217;re above the highly active $28 &#8211; $28.2k level. Notice the large horizontal bar. All Eyes On The Fed Key to the price action in the coming weeks may be the FOMC meeting tomorrow, Wednesday, and the subsequent press conference by Fed Chairman Jerome Powell. The market expects a final hike of 25 basis points. This will put the U.S. benchmark interest rate at the same level as before the financial crisis in 2007. Related Reading: Bitcoin Is Crashing, But Why Are Transactions At New All-Time Highs However, the decision is likely to be priced in already. More important will be the FOMC press conference at 2:30 pm EST, when Powell will give his remarks for the coming months. The market will be hoping for a comment from Powell that this was the last rate hike and that the first rate cuts will come later this year (very unlikely). The focus will also be on Powell&#8217;s comments on the banking crisis and how the credit crunch is intensifying. Most likely, Powell will play both sides, as he did at the March FOMC meeting. Comments such as &#8220;inflation is not quite where we want it to be,&#8221; &#8220;monitoring developments in the banking sector,&#8221; and &#8220;data dependence&#8221; are virtually guaranteed. On the bullish side, Powell could signal a pause in June and leave a door open for rate hikes if data grants it. Lol &#8230; volatile day coming tomorrow, and perhaps a decisive trend setter for the coming weeks. The start of a new #Bitcoin rally? https:\/\/t.co\/Dd8FWOjsDa &mdash; Jake Simmons (@realJakeSimmons) May 2, 2023 At the time of writing, Bitcoin was trading at $28,100, below the mid-range after rejecting at the range high again. Until the FOMC decision, it seems rather unlikely that BTC will make a major move unless there is another short or long squeeze due to the madness in the futures market. A recapture of the upper range would be a bullish sign going into the FOMC. Featured image from iStock, chart from TradingView,com<\/p>\n","protected":false},"author":571,"featured_media":529455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-529451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin Market Update: What&#039;s Next As Fed Rate Hike Looms?<\/title>\n<meta name=\"description\" content=\"Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. What&#039;s next?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Market Update: What&#039;s Next As Fed Rate Hike Looms?\" \/>\n<meta property=\"og:description\" content=\"Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. What&#039;s next?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-02T08:30:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:11:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836\" \/>\n\t<meta property=\"og:image:width\" content=\"1254\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?\",\"datePublished\":\"2023-05-02T08:30:34+00:00\",\"dateModified\":\"2024-06-11T08:11:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\"},\"wordCount\":641,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836\",\"keywords\":[\"bitcoin\",\"btc\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\",\"url\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\",\"name\":\"Bitcoin Market Update: What's Next As Fed Rate Hike Looms?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836\",\"datePublished\":\"2023-05-02T08:30:34+00:00\",\"dateModified\":\"2024-06-11T08:11:29+00:00\",\"description\":\"Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. What's next?\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836\",\"width\":1254,\"height\":836,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/wncen.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Market Update: What's Next As Fed Rate Hike Looms?","description":"Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. What's next?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Market Update: What's Next As Fed Rate Hike Looms?","og_description":"Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. What's next?","og_url":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-05-02T08:30:34+00:00","article_modified_time":"2024-06-11T08:11:29+00:00","og_image":[{"width":1254,"height":836,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836","type":"image\/jpeg"}],"author":"Jake Simmons","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?","datePublished":"2023-05-02T08:30:34+00:00","dateModified":"2024-06-11T08:11:29+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/"},"wordCount":641,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836","keywords":["bitcoin","btc"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/","url":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/","name":"Bitcoin Market Update: What's Next As Fed Rate Hike Looms?","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836","datePublished":"2023-05-02T08:30:34+00:00","dateModified":"2024-06-11T08:11:29+00:00","description":"Bitcoin bears have gained control over the last few weeks, at least in the short term, and the battle seems to be on. What's next?","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836","width":1254,"height":836,"caption":"Bitcoin"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?","url":"http:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-market-update-up-or-down-whats-next\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc"],"dateCreated":"2023-05-02T08:30:34Z","datePublished":"2023-05-02T08:30:34Z","dateModified":"2024-06-11T08:11:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Market Update: Up Or Down, What&#8217;s Next As Fed Rate Hike Looms?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-market-update-up-or-down-whats-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-market-update-up-or-down-whats-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-1198722186.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-1198722186.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\"],\"dateCreated\":\"2023-05-02T08:30:34Z\",\"datePublished\":\"2023-05-02T08:30:34Z\",\"dateModified\":\"2024-06-11T08:11:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1198722186.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/529451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=529451"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/529451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/529455"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=529451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=529451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=529451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}