Ethereum News Daily TheBitTimes.com

Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sep. 20. Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sep. 20. However, long-term investors are unfazed and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July. This bullish temperament is not reflected in institutional activity, however. Investors have cut down on their cryptocurrency exposure and are sitting on the sidelines awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products hit $455 million over the past nine weeks. Daily cryptocurrency market performance. Source: Coin360 Meanwhile, analysts remain divided about Bitcoin’s near-term price action. Bollinger Bands creator John Bollinger speculated in a X (formerly Twitter)...

The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative. Bitcoin (BTC) has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sep. 11. However, Bitcoin is not out of the woods yet.  Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence, while speaking to Cointelegraph said that if the tightening cycle extends, followed by “an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.” Daily cryptocurrency market performance. Source: Coin360 Cryptocurrency traders have also remained cautious. A Bitfinex report shows that the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a ...