Bitcoin Price Kicks Off the Week In Red, What Fueled The Crash?

The Bitcoin price has been moving sideways as October marches on, and the cryptocurrency experiences downside volatility. On low timeframes, the sentiment in the market is neutral with upticks towards the bullish side, but on higher timeframes, BTC has been stuck in the same range for months. Related Reading: Stellar (XLM) Still Contemplating To Join The Green Part, Will Price Give In? At the time of writing, the Bitcoin price trades at $19,150 with a 2% loss in the last 24 hours and sideways movement in the last 7 days. BTC’s price remains rangebound in its current levels and with occasional re-test of resistance at $20,500 due to macroeconomic conditions. Bitcoin Price Sees Spike In Volatility The Bitcoin price was recently rejected from the $20,500 area as the U.S. economy records higher-than-expected levels of employment and resilience to the Federal Reserve (Fed) monetary policy. The financial institution took over the attention of the financial sector. The current economic narrative gravitates around the same topics, how far is the Fed willing to go to mitigate inflation, taking markets down with it? And how much pain can the U.S. allies take before the financial institution pivots? From this main narrative, there are different sub-plots with a potential economic recession taking center stage. In the crypto sector, there are actors already expecting the Bitcoin price to rally as central banks maintain their aggressive ap...