The Federal Reserve ended its quantitative tightening, sparking debate on Bitcoin’s next major move.
Bitcoin rebounded after a sharp dip, forming bullish signals like an inverse head-and-shoulders pattern.
The Federal Reserve’s decision to end its quantitative tightening program has placed Bitcoin at a decisive point, with traders watching whether the move will revive its bullish momentum or trigger a repeat of the 2019 post-policy decline.
Federal Reserve Chair Jerome Powell confirmed on Tuesday that the central bank would halt balance sheet reductions, signaling the end of its tightening phase. However, his accompanying remarks dampened market optimism after he dismissed expectations for another rate cut in December, despite a 25-basis-point reduction at the October meeting.
The hawkish tone strengthened the U.S. dollar and added pressure to risk assets, including cryptocurrencies. The process is bullish for risk assets, such as Bitcoin, Peter Chung, head of research at Prest
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