Bitcoin's Volatility Surges Amidst Fed Hints and Market Uncertainty
1min read Bitcoin's price has been volatile, with the cryptocurrency fluctuating around $89,211 on February 26th. The digital currency reached a high of $92,536 and a low of $86,015 during the trading session. The Federal Reserve's hint at potential interest rate hikes to combat rising inflation has sparked uncertainty in the market, potentially leading investors to shift away from risk assets, including cryptocurrencies like Bitcoin. Global supply chain disruptions and increasing budget deficits are further exacerbating market uncertainty.
Analysts suggest that if Bitcoin's price trend continues to decline, a key short-term support level could be identified around $88,000. Conversely, if the cryptocurrency rebounds, the notable resistance level stands near $93,000. Investors are advised to closely monitor macroeconomic developments and exercise caution while effectively managing their investment risks.
