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Bitcoin price retests key support as Fed rate hike fears steal $27K

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Bitcoin bulls fail to stem fresh losses, with BTC price abandoning prior strength and opportunistic whales manipulating the arena with liquidity.

Bitcoin (BTC) traded back below $27,000 on May 19 as analysis flagged large-volume trades pressuring price.

4e926882-9cce-44eb-a2a6-4616391e3e50.pngBTC/USD 1-day candle chart on Bitstamp. Source: TradingView

Inflation specter haunts crypto markets

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,380 on Bitstamp.

A modest recovery then took the pair to a range familiar from several days prior, this still in focus prior to the week’s final Wall Street open.

Downside overnight came courtesy of increasing market expectations of an interest rate hike by the United States Federal Reserve in June.

These came thanks to low jobless claims data for the week, with Fed officials adding a hawkish tone.

"On the one hand, inflation is too high, and we have not yet made sufficient progress on reducing it," a speech by board member Philip Jefferson at the 2023 International Insurance Forum in Washington, D.C., stated.

"On the other hand, GDP has slowed considerably this year, and even though the effect has been muted in the labor market so far, demand clearly has begun to feel the effects of interest rates that are 5 percentage points higher than they were a little over a year ago."

According to CME Group’s FedWatch Tool, the odds of the Fed pausing its hiking cycle next month, at one point over 95%, stood at just 62% on the day.

c80e36ea-de43-4cae-aad6-a1e11d574d00.pngFed target rate probabilities chart. Source: CME Group

In a detailed breakdown of the events, monitoring resource Material Indicators showed owners of bid and ask liquidity placing trades to manipulate BTC price behavior on short timeframes.

“After chopping sideways, markets began to price in potential for another rate hike as the morning's Jobless Report and #FED speakers set the tone for that conversation ahead of #JPow's appearance, scheduled for Friday,” part of Twitter commentary summarized.

“As price began to drop, a ladder of bids was rugged and price moved to prior support ~$26.5k, but a sell wall was quickly placed to suppress price.”
9954547e-3e17-47c0-a9e5-090641fcdd25.pngBTC/USD order book data (Binance). Source: Material Indicators/ Twitter

Material Indicators noted that BTC/USD performed a retest of the 100-day moving average (MA) — its third in the past seven days.

“After about 90 mins and a few nibbles at the sell wall, the roof was pulled. Shortly after that a new $36M block of bids was placed below local support and the melt up began,” it added.

In addition to the 100-day MA, the 200-week MA at $26,100, the analysis concluded, could also form a downside support zone next.

a32072af-19c0-4908-aa72-7a4bf7a568d3.pngBTC/USD 1-hour candle chart (Bitstamp) with 100-day, 200-week MA. Source: TradingView

Material Indicators referenced the May 19 appearance by Fed Chair Jerome Powell, with the implication that further hawkish language on inflation would add to risk asset price pressure.

Traders in "wait and see" mode

Traders thus maintained potential bearish targets, these focusing on a broad area around $25,000.

Related: Hyperbitcoinization coming, says Bitcoin OG as ‘wholecoiners’ hit 1 million

Michaël van de Poppe, founder and CEO of trading firm Eight, was among them, identifying $27,000 as the key support level now absent from the chart.

Wanted #Bitcoin to hold above $27,000-27,200.

Didn’t happen, stopped out on my longs and in the waiting game now.

Reclaim that range, we’ll try again, or now we’ll be waiting for $26,400 sweep and/or $25,000.

— Michaël van de Poppe (@CryptoMichNL) May 18, 2023

"I am looking for a long if we can break above $27,500, or a short if we close below $26,600. No trade in between this tight range," popular trader Crypto Tony added in part of Twitter comments.

3b7622b4-99f6-435c-bf6e-af4d939d44bb.pngBTC/USD annotated chart. Source: Crypto Tony/ Twitter

Trading suite Decentrader meanwhile flagged uninspiring numbers when it came to shorts versus longs, arguing that a shift was required for price to have a shot at reclaiming higher levels.

"Long/Short ratio is currently above 2 which is very high. This typically needs to resolved and move lower before things start looking bullish," it acknowleged.

Magazine: ‘Moral responsibility’: Can blockchain really improve trust in AI?

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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