Following Tuesday’s dip, both Bitcoin (BTC) and Ethereum (ETH) rebounded on Wednesday in anticipation of the United States Federal Reserve rate decision. It is believed that the Fed will announce a 25 basis point hike in May’s meeting. BTC/USD surged from a low of $27,935.73 on Tuesday to an intraday high of $28,881.30, inching marginally closer to the $30,000 mark. An upward crossover of the 10-day and 25-day moving averages may signal bullish pressure to surpass $30,000, but the Relative Strength Index (RSI) must first surpass the 52.00 mark. ETH/USD rose to a peak of 1,879.76 after almost falling below $1,800, seeing a brief push above the $1,875 ceiling before easing gains. ETH is currently trading at $1,859.53 and could potentially exceed $1,900 after the Fed’s rate decision. How do you think this decision will impact the market? Leave your thoughts in the comments below.
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Please, behave!