Will Bitcoin (BTC) Price Pump Or Dump This Coming Weekend?

Pratik Bhuyan
December 15, 2022 Updated August 1, 2025
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Dormant Bitcoin addresses back to life

With the latest announcement of an interest rate hike of 50 basis-points from the U.S. Federal Reserve, the crypto market crashed, washing off all the gains it made prior to the announcement. The Fed stated that it is likely fair to raise rates again at the current rate of increase. After increasing rates by 75 bps for several months due to inflation worries, today’s announcement came as a slowdown to rate hikes.

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Bitcoin (BTC) Price Slumps

The crypto market along with the stock market crashed significantly after the Federal Reserve announcement. At the time of writing, the price of Bitcoin and Ethereum fell by over 2.7% in the past thirty minutes and currently trade at $17,790 and $1305 respectively.

Additionally, the Bitcoin Fear and Greed Index has fallen to levels of “fear” and is expected to increase further to “extreme fear” in the coming days.

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Fear Engulfs Crypto

There is also a growing fear among the crypto community on the back of the market dip, as the BTC price rally seems to have lost steam.

Many expected a relief rally to commence after the Fed announcement today, but it seems like all hopes have been squashed.

However, many prominent analysts do believe that this crash is more of a “buy the news, sell the rumor”, and the market has already bottomed out. They anticipate a relief rally for Bitcoin is very much due.

Few are also of the notion that, it was normal for markets to behave the way they did and that they would return to normalcy soon.

Read More: Jerome Powell Says Uncertain How Economy Will Be Placed Next Year

According to data from CoinGlass, the crypto market action has contributed to $44 million in liquidations within the past 24 hours, most of which came from Bitcoin trades.

Read More: Crypto Market Crashes After Fed Slows Down Rate Hike To 50 BPS

The Fed’s continuous rate hikes are part of a larger effort to curb inflation and calm the economy, which has been pushing prices to their highest levels in decades.

As investors react to an uncertain economic climate, the effects of every fresh Fed rate increase are still being felt in the stock and cryptocurrency markets. For now, the price direction of Bitcoin remains in an unknown territory at least for the coming few days.

Also Read: Crypto Expert Predicts Ethereum (ETH) Price; Time To Buy?

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now - he has seen it all.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.