Meanwhile, the US markets have closed again. We take a look at the live Bitcoin (BTC) price and prices of the top 25 crypto that are rising sharply due to the FED interest rate decision. In addition, we look at 2 crypto for which a price decline is expected. Perhaps going short is an option?
We start of course with the live Bitcoin (BTC) price and prices of the top 25 crypto.
Live bitcoin (BTC) price and prices top 25 crypto rise
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 22,583.53 ($22,881.76). This is 8.42% higher than last night and also higher than during our Bitcoin lunch this afternoon.
The prices of the top 25 crypto are also rising rapidly. Apart from the stable coins, we only see green numbers on the digital price boards, many of them in double digits. The biggest gain is currently at + 31.82% for Ethereum Classic (ETC). On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Bitcoin (BTC) price rises as expected due to Fed interest rate decision
Tonight the FED, the US Central Bank, published the long awaited and dreaded final interest rate decision before the summer. There were no surprises. The FED announced a 0.75% interest rate increase and indicated that more increases would follow to try to rein in inflation. The fact that the Fed waived a 1% increase indicated a cautious approach and that gave confidence.
The market then reacted as expected with a hefty price increase. As we analyzed this afternoon, the price is well above the key price of $21,710. Thus, the BTC price follows the bullish trend line that can realize growth up to $25,000.
It would not be the first time that after an interest rate decision first an increase and later a correction can be noted, so the coming days remain exciting. In the long term, however, sentiment remains bullish. Indeed, a survey of data analysts indicate that although there may still be a correction to $13,000, the largest crypto currency will close the year around $35,000. According to these analysts, this will set the stage for a BTC price of $ 106,757 in 2025 (which would mean a return of about 460%) and a Bitcoin price of $ 314,000 in 2030. While this of course sounds hugely positive it is notable that this prediction is half of what the panel expected last year.
In the short term, the outlook is not equally favorable for all crypto currencies. One expects 2 crypto coins to fall in price. This provides opportunities to make money by going short (and speculating on a drop in value).
Is Cardano (ADA) breaking the crypto trend?
Many eyes of investors in Cardano (ADA) are focused on the Vasil hard fork. The Cardano (ADA) price tends to rise sharply in price prior to major hard forks, but there seems to be no sign of that in the run-up to the already 2x delayed Vasil hard fork.
Although the live Cardano (ADA) price is currently up 9.67% to $0.507 the currency is still in a bearish price pattern. In fact, another wave of selling is on the horizon. To avoid this, a stable price movement above $0.56 is needed. A single peak above this value is insufficient, but if the currency succeeds in creating price stability above this price, a further rise to $0.61% is possible and there is more than a 20% return to be had from the current price. In the analysis below you can see the bullish and bearish scenario.
As long as the price does not remain stable above $0.56, a further price decline and perhaps even a selling wave is to be expected. For options traders, it then pays to go short and speculate on a price drop.
If you want to explore going short there is another option.
This crypto marker is a ‘short’ indicator for Polygon (MATIC)
The live Polygon (MATIC) price is currently quoting $0.880 and that is a fine increase of + 13.89%. Still, it is too early to cheer for a bull trend.
The indicators for MATIC itself may be mostly bullish, but this crypto’s correlation with Bitcoin (BTC) threatens to throw a spanner in the works if the BTC price does fall in the near term. A bearish retest of the Polygon (MATIC) is therefore to be expected. For the Bitcoin (BTC) price, analysts are looking at $20,100 as the final support level. The bearish reversal for Polygon (MATIC) itself lies, according to the same analysts, around $ 0.74%.
So it remains exciting for the crypto market. We will therefore continue to follow the developments.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”