CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Bitcoin to $27K next? 1-week BTC price highs precede speech by Fed’s Powell

28.09.2023
A A
0
123
VIEWS
ShareShare

Bitcoin (BTC) hit new weekly highs after the Sept. 28 Wall Street open as markets awaited fresh cues from the United States Federal Reserve.

BTC/USD 1-hour chart. Source: TradingView

Bitcoin summons volatility ahead of Powell speech

Data from Cointelegraph Markets Pro and TradingView showed BTC price strength staging a comeback on Sept. 28, having delivered what some referred to as a classic “pump and dump” 24 hours prior.

During that performance, highs of $26,823 appeared on Bitstamp due to 2% daily gains before Bitcoin retraced all of its progress.

A slower grind higher then took hold, with bulls edging closer to $27,000 at the time of writing.

Bitcoin appeared to react well to the latest U.S. macroeconomic data prints.

Gross domestic product for Q2 grew by 1.7% year on year — below the projected 2.0% — while Personal Consumption Expenditures (PCE) index data for August aligned with expectations.

“Bring on the volatility,” Keith Alan, co-founder of monitoring resource Material Indicators, told X (formerly Twitter) followers beforehand.

Data from the Binance BTC/USD order book uploaded by Alan showed little by way of resistance standing in the way of spot price under the $27,000 mark.

Marked up #FireCharts to help you see the Weekly/Monthly range for #BTC. pic.twitter.com/LQs8i2rZcV

— Keith Alan (@KAProductions) September 28, 2023

Meanwhile, the macro data constituted just the prelude to the day’s main event, with Jerome Powell, chair of the Federal Reserve, due to comment later on.

Powell, whose recent words failed to deliver noticeable volatility to crypto markets, was due to speak at the Fed’s “Conversation with the Chair: A Teacher Town Hall Meeting" event in Washington, D.C. at 4:00 pm Eastern Time (8:00 pm UTC).

BTC price not out of the woods

Commenting on the state of play on Bitcoin markets, popular trader and analyst Daan Crypto Trades was more optimistic about the strength of the day’s move compared with Sept. 27.

Related: Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K

“Back to yesterday's highs but with considerably less Open Interest,” he noted.

“No doubt there’s longs chasing here but it’s less frothy than it was yesterday. Would still like to see longs chill out to not get a full retrace later on.”

BTC/USD chart with open interest data. Source: Daan Crypto Trades/X

An accompanying chart tracked open interest as BTC/USD headed higher.

Fellow trader and analyst Rekt Capital meanwhile flagged key resistance trend lines now in play, with Bitcoin required to overcome them to effect a more substantial trend change.

#BTC is right back at the Bull Market Support Band cluster of moving averages, challenging to breakout beyond them$BTC #Crypto #Bitcoin pic.twitter.com/c32BiQOwJ5

— Rekt Capital (@rektcapital) September 28, 2023

Elsewhere in the day’s analysis, Rekt Capital acknowledged that $29,000 could make a reappearance and still form part of a broader comedown for Bitcoin.

“It’s important to remember that Bitcoin could technically rally to even as high as ~$29,000 to form a new Lower High (Phase A-B),” he explained alongside a chart.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Share9Tweet6ShareSharePin2

Related Posts

Crypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence
Bitcoin

Crypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence

03.07.2025
0

BitcoinWorldCrypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence The pulse of the digital asset world...

Read moreDetails
Bitcoin Treasury Strategy Unlocks $24.75 Million for Green Minerals’ Ambitious Growth

Bitcoin Treasury Strategy Unlocks $24.75 Million for Green Minerals’ Ambitious Growth

02.07.2025
Celsius Lawsuit: Judge Unleashes Crucial Legal Battle Against Tether Over $4 Billion Bitcoin Liquidation

Celsius Lawsuit: Judge Unleashes Crucial Legal Battle Against Tether Over $4 Billion Bitcoin Liquidation

02.07.2025
Bitcoin’s Momentum Challenge: Why the Epic BTC Rally Faces Profit-Taking Pressures

Bitcoin’s Momentum Challenge: Why the Epic BTC Rally Faces Profit-Taking Pressures

01.07.2025
Bitcoin’s Astonishing Evolution: A New Trading Pattern Emerges

Bitcoin’s Astonishing Evolution: A New Trading Pattern Emerges

01.07.2025
Load More
Next Post
Bipartisan Push for Bitcoin ETF Approval Gains Momentum Amid SEC Hearing

Bipartisan Push for Bitcoin ETF Approval Gains Momentum Amid SEC Hearing

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

State regulators crack down on fraudulent cryptos promoted as ‘Elon Musk AI Tokens’ and ‘TruthGPT Coin’

State regulators crack down on fraudulent cryptos promoted as ‘Elon Musk AI Tokens’ and ‘TruthGPT Coin’

2 years ago
XRP Price Prediction as XRP Falls to Lowest Level in 4 Months – What’s going on?

XRP Price Prediction as XRP Falls to Lowest Level in 4 Months – What’s going on?

1 year ago
Shiba Inu Is Up 80% YoY But Slumped On International Dog Day. What’s Happening?

Shiba Inu Is Up 80% YoY But Slumped On International Dog Day. What’s Happening?

10 months ago
Twitter Accounts of Aptos Network Hacked To Promote Fake Airdrop

Twitter Accounts of Aptos Network Hacked To Promote Fake Airdrop

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Why Snaky Way’s $AKE Token Is More Than Just a Meme Coin, Presale Ongoing

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

Trending

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH
All news

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
0

A sophisticated cyberattack on C&M Software, a technology provider for Brazil’s Central Bank, has triggered a wave...

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz