Bitcoin traders await FOMC, Powell as BTC price hits new 1-month high

bitcoin (BTC) set new one-month highs at the Wall Street open on December 14 in a day filled with key events for the US Federal Reserve.

Bitcoin bullish with stocks at FOMC

Data of Cointelegraph Pro Markets Y TradingView It showed that BTC/USD reached $18,126 on Bitstamp, breaking the previous day's high of $18,106.

US stocks rose as markets eagerly awaited comments from the Federal Reserve after the November consumer price index release showed inflation slowing. beyond expectations.

December 14 was scheduled to see a decision on rate hikes for the month by the Federal Open Market Committee (FOMC), along with a speech from Fed Chairman Jerome Powell.

This last event tends to cause considerable volatilitywith experts closely examining Powell's language for clues about longer-term economic policy.

“With the arrival of the FOMC today, we are at a crucial stage,” popular Crypto trader Ed summarized in a Twitter thread.

“An 18.2k liquidity sweep is what everyone is looking for. Max Pain would be a divine bomb and he would leave everyone behind”.

Nonetheless, Crypto Ed warned that a bullish reversal of the US Dollar Index, combined with a gradual decline in stocks, would kill the euphoria of Bitcoin bulls.

"A decoupling would be nice, but unlikely," he added.

Michaël van de Poppe, founder and CEO of trading company Eight, was generally more bullish on BTC.

“Markets fell from $20K to $15.6K due to the FTX crash. We are currently trading at $18K, slightly higher than the June low," he said. saying Twitter followers in one of several posts.

"I understand the bearish thesis, but this is honestly a sign of strength for Bitcoin."

Before that, Van de Poppe had given Bullish targets as low as $18,300, with $17,200 needing to hold for support.

$12,000 BTC waits on the wing

Entertaining a bearish end to events, traders including Crypto Tony and Crypto's Il Capo went against the grain.

Related: Bitcoin Bear Market 70% Crash Kills BTC 'Tourists' as Metric Screams Buy

For Crypto Tony, a trip as low as $10,000 “wasn’t out of the question yet,” while Il Capo of Crypto produced a frank forecast of an imminent capitulation.

“Simple”, he commented along with a chart offering $12,000 as a support zone to cushion the fall.

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