Bitcoin pushes up on the last day as the market prepares for the upcoming speech from the U.S. Federal Reserve (FED) Chairman Jerome Powell. Despite the recent gains, the general sentiment in the crypto market remains bearish.
Related Reading | Bitcoin Seen Dropping To $32K – But Not This Month – As Analyst Sees It Hitting $48K
At the time of writing, Bitcoin trades at $38,800 with a 1.5% profit in the last 24-hours.
BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview
The first cryptocurrency by market cap could surprise market participants. Some operators have started predicting a massive crash ahead of Powell’s intervention.
The old market adagio “Sell in May and go away” seems more present than ever as the sentiment turns fully fearful. In a recent report, trading firm QCP Capital revealed their chain is biased as the bearish sentiment seems “slightly over-extended”.
In that sense, the firm claims that market participants could have priced in any FED announcement “too aggressively”. Thus, if the financial insti ..
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