Bitcoin, Ethereum, Dogecoin Rangebound As Fed Chair Jerome Powell emphasizes rate – Increased uncertainty: Analy says that these 2 levels are the key for BTC – Grayscale Bitcoin Mini Trust (BTC) Common Units of Fractional Interest (Arca: BTC)

Leading cryptocurrencies went aside on Wednesday as chairman of the Federal Reserve Jerome Powell indicated with slower growth and hot inflation after the central bank left the interest rates unchanged.

What happened: Bitcoin Consolidated in the range of $ 104,000 $ 105,000, with trade volumes that fell 11% in the last 24 hours.

Likewise, Ethereum Fluctuated around $ 2,500, with a volume decrease of 18% that indicates a lack of interest among traders.

Both assets were stagnated in June after their May increases, with BTC an increase of 0.23% and ETH 0.03%.

More than $ 224 million was liquidated from the cryptocurrency market in the last 24 hours, in which traders with long position bear the majority of the losses.

The open interest of Bitcoin has fallen by 1.24% in the last 24 hours, while ETH registered a decrease of 2.35% in funds in its derivative contracts.

Meanwhile the percentage of Binance Traders with long BTC positions fell in the last 24 hours, according to the long/short ratio.

The market sentiment returned to ‘greed’, according to the Crypto Fear & Greed Index.

Top Gainers (24 hours)

The global market capitalization of cryptocurrency was $ 3.25 trillion, after a dip of 0.22% in the last 24 hours.

Large stock indexes were closed on Wednesday in the Red. The Dow Jones Industrial average Dip 44.14 points, or 0.10%, to close to 42.171.66. The S&P 500 Lost 0.03% to end at 5,980.87. The technically oriented Nasdaq Composite Wash the silver lining, with 0.13% to close at 19,546.27.

As generally expected, the Fed left the interest rates unchanged at 4.25%-4.50%, while the slower growth and heterarter inflation indicated. Later in the day, Fed Chair Powell Rates called an important source of uncertainty, but dragged continuous tensions in the middle.

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Comments: In a statement to Benzinga, Artur Ainovfounder and investor at B2 Ventures, noted “Very few positive developments “are currently occurring.

“If no positive sentiment arises in the near future, Bitcoin could very well withdraw into the range of $ 90,000- $ 84,000. On the other hand, if a positive background appears, especially if the Fed means a rate reduction, Bitcoin will probably reach $ 128,000 at the end of the year,” Azizov.

He said that the most important levels to view are $ 112,000 and $ 100,500, without “large” rises or corrections in sight.

Blockchain Analytics firm Single stated that the conflict in Iran-Israel would continue to cause “volatile and unpredictable price action.

“Despite the initial panic, Bitcoin remained in the $ 104,000 $ 105,000 series, helped by consistent ETF inflow and a lack of follow-up in military actions, whereby the typical ‘risk-off is reflected and then’ pattern is seen in earlier geopolitical crises,” Santiment added.