BTC price caught a bid, leading to a similar-sized boost in select altcoins, but on a macro level, $20,000 remains a strong overhead resistance.
As a blockchain network of choice, Polygon offers scalability, speed, low network fees and a robust developer ecosystem, according to Robinhood.
Bitcoin and altcoins appear to be ignoring the headline of the U.S. dollar index soaring to a 20-year high as the British pound plummets to a record-low against DXY.
Bitcoin and altcoins rallied ahead of the Fed’s rate hike decision, indicating that traders viewed the 0.75% rate hike as a “priced-in” event.
Uncertainty over the Federal Reserve’s upcoming rate hike is keeping Bitcoin and altcoins under pressure. This could change if the expected 0.75% bps hike is selected.
Bitcoin is struggling to find support in the $20,000 zone, which is negatively impacting investor sentiment and weighing on most altcoin prices.