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Bitcoin almost breaks down from its sideways construction in place for months, and Bitcoin bulls are struggling to prop up the market. Bitcoin (BTC) targeted two-month lows on Aug. 17 as United States inflation returned to spook cryptocurrencymarkets. BTC/USD 1-hour chart. Source: TradingView BTC price teases exit from months-long corridor Data from Cointelegraph Markets Pro and TradingView confirmed the lowest BTC price levels since June 21 as BTC/USD wicked to $28,300. The downside came after the United States Federal Reserve published the minutes of its July meeting to discuss future monetary policy. Members of the Federal Open Market Committee (FOMC) revealed concerns that inflation might remain elevated without further interest rate hikes — something risk assets did not wish to see going forward. “Participants discussed several risk-management considerations that could bear on future policy decisions,” the minutes read.  “With inflation still well above the Committee's longe...

Bitcoin bulls attempt to break higher as Fed liquidity upends quantitative tightening in place since 2021. Bitcoin (BTC) hit new nine -month highs on March 17 as the latest events in the growing United States banking crisis boosted crypto markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Banking crisis volatility sees $27,000 BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $27,025 on Bitstamp before consolidating. At the time of writing, the pair circled $26,500 with volatility ongoing after the Wall Street open. A catalyst for fresh upside had come in the form of the Federal Reserve’s balance sheet data overnight, this showing almost $300 billion being injected into the economy as part of the banking crisis response. The event effectively undid months of liquidity removal under the Fed’s quantitative tightening (QT), and commentators were quick to call the restarting of the opposite phenomenon — quantitative easing (QE). “They’...