Bitcoin forgets Fed as trader eyes classic BTC price 'liquidity hunt'

Bitcoin forgets Fed as trader eyes classic BTC price ‘liquidity hunt’

Conditions are ripe for a Bitcoin range breakout, but fears among traders are that a deep correction is due.

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Bitcoin (BTC) remained stuck inside a narrow range into May 20 as cryptocurrency markets shook off United States macro triggers.

BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewPowell leaves market with “tons of uncertainty”

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Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading just below $27,000.

The pair had seen brief volatility after Jerome Powell, Chair of the Federal Reserve, gave new commentary on policy and the outlook for inflation.

While leaving the door open for change should it be required, Powell’s language did not offer risk assets clear signals. Responding, financial commentary resource, The Kobeissi Letter, warned that “tons of

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