$BTC has come close to hitting the $39K level
Earlier this week, Bitcoin plunged below $33,000 during a sell-off that analysts believe was caused by the unfavorable macro environment. Analysts believe that crypto and other assets were able able to benefit from the ultra-easy monetary policy conducted by the central bank to cushion the blow delivered by the pandemic.The central bank is also expected to phase out its unprecedented bond-buying program this March. It has now been reduced to just $30 billion a week.
When it comes to the rate policy, Powell says that no decision has been made so far, adding that Fed officials will be"guided by incoming data." The Fed head says that there's"quite a bit of room" to move rates up without undermining the labor market.
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