Bitcoin remains close to $17k after FOMC minutes release: Will BTC rally soon?

  • Bitcoin price steadied above $16,800 as US Federal Reserve officials agreed to slow its pace of interest rate hikes.

  • The latest FOMC minutes indicate that US policymakers are focused on controlling the pace of price hikes.

  • Bitcoin could surge past the $17k resistance level soon.

BTC eyes the $17k resistance level

The United States Federal Reserve recently released minutes from the Federal Open Market Committee for December. Fed members agreed that a restrictive policy stance would need to be maintained for now until the incoming data provided confidence that core inflation was on a sustained downward path back down to 2%.

This latest cryptocurrency news saw Bitcoin, the world’s leading cryptocurrency by market cap, maintain its price above the $16,800 level over the last 24 hours. It has lost less than 1% of its value, and the price of Bitcoin now stands at $16,834. 

The broader crypto market is also recovering from its recent slump. At press time, the total cryptocurrency market cap stands at $819 billion, up by less than 1% in the last 24 hours.

Key levels to watch

The BTC/USD 4-hour chart is bullish as Bitcoin has held its ground above the 50-day Exponential Moving Average (EMA) at $16,714 over the last few days. 

The MACD line is above the neutral zone, indicating that the leading cryptocurrency has preserved its downward trend from the standpoint of realised price. The 14-day RSI of 61 also shows that more bulls controlling the market could see BTC enter the overbought region. 

If the bullish momentum increases, BTC could surge past the first major resistance level at $17,145 over the next few hours. However, Bitcoin could struggle to surpass the second major resistance level at $17,485 in the short term, unless it gains support from the broader crypto market. 

Where to buy Bitcoin now



eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy BTC with eToro today


OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy BTC with OKX today

All Dutch and English crypto news!

Bitcoin analyse: volume-indicator voorspelt correctie

De grootste cryptomunt hangt nog steeds tussen twee prijsniveaus in. De koers ondervindt ondersteuning van de 22.350 dollar, en weerstand van de 23.350 dollar. De prijsactie...

What is the Bitcoin hash rate? And why is at all-time highs?

Key Takeaways The Bitcoin hash rate is the amount of computing power contributed towards mining It has continued to take new all-time highs This squeezes miners' profitability, at...

Wordt dit de beste januari voor Bitcoin ooit?

We zijn benieuwd hoe lang Bitcoin zich aan zijn goede voornemen houdt om alleen maar te stijgen. Vanaf 1 januari is de koers met 39%...

State senator pushes bill to make Bitcoin legal tender in Arizona

Wendy Rogers, a state senator in Arizona, United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) a legal tender...

Beste exchanges

Koop je crypto bij Bitvavo