Bitcoin’s price slide could end on Wednesday as Bitfinex gives a hint of the Fed’s plans to “buy with the news” ????

Bitcoin (BTC) price could see its final day of decline while Shoppers queue to take advantage of Wednesday’s Federal Reserve meeting.

On December 14th, bids on the major Bitfinex exchange began to rise. This is an obvious sign that the market believes the BTC / USD pair is bound to win.

Is it time to “sell on the rumor, buy on the news”?

The Fed will provide vital information on the future of asset purchases -a form of quantitative easing (QE) – as well as inflation on the rally, and the stakes in the chain rise for both crypto and traditional markets.

Bitcoin’s price slide could end on Wednesday as Bitfinex gives a hint of the Fed’s plans to “buy with the news” ????
Bitcoin’s price slide could end on Wednesday as Bitfinex gives a hint of the Fed’s plans to “buy with the news” ????

Bitfinex’s order book data suggests this Bitcoin traders are considering the option of “buying with the news”.

As Cointelegraph reported, The Fed’s curbing of its asset purchases is effectively limiting the availability of “easy” money, and speeding up the process could put pressure on risky assets like Bitcoin until policy eases yields.

But still, In the short term, a buy would mirror the events of last month’s inflation data and create striking but short-lived momentum for BTC.

Bitfinex traders lurk in a zone between $ 44,500 and $ 46,000 on Tuesday. with cash currently at $ 46,800 after a day of losses.

“I think the FOMC has a good chance of being a rumor-sell, buy at the news event.” added Analyst William Clemente.

“You need to balance that with the return of illiquid bids to annual highs and some great Bitfinex deals. Just wait for the $ 53,000 to start bidding. Glad to miss some of the movement and essentially pay for the confirmation. “

Bitcoin traders are far from docile

On the other hand, Signs continue to appear in the exchange order books that whales are becoming increasingly bearish.

Like Clues Material Scientist, creator of the on-chain analytics resource Material Indicators, High volume traders have been selling continuously since October.

one ????Materials scientist commented on Twitter.

Some exceptions have made headlines and whales – the cohort with the most market activity – have shown buying interest. According to the information, however The resistance at $ 60,000 continues to increase over time.

“We still haven’t seen any of the BTC crashes in the past month buying with real conviction,” Material indicators added in another post.

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