Bitcoin price saw a slight correction after the Federal Reserve raised interest rates again by 75 basis points, but the price of Bitcoin was not much affected and settled more than $20 thousand.

Interestingly, the price of Bitcoin has risen twice from the $2080 level in a week, making this double bottom.

Additionally, the data suggests that cryptocurrency pouring into spot trading platforms has reached a new all-time high.

It seems that major investors and whales have started to move their money from stablecoins to exchanges, which is a key point that shows where Bitcoin is at the bottom and its potential to move at any given moment.

Bitcoin (BTC) Price Waiting to Rise Amid Flow of Stablecoins:

Stablecoins pouring into spot trading platforms hit new all-time highs.

This is a good sign for Bitcoin.

But this can cause volatility and volatility in the price of Bitcoin in the short term.

Additionally, it may indicate that the price of Bitcoin will not fall below the previous low near $18,000.

Historically, big stablecoin moves have led to strong gains in the cryptocurrency market.

Bitcoin price remains bullish despite Fed rate hike, according to analyst Michael Van de Poppe.

The next level of Bitcoin price should be $22.4K.

Fed hints at slowdown in rate hikes:

The Federal Reserve has announced a 75 basis point hike for the fourth time in a row.

However, President Jerome Powell is pessimistic about the upcoming price hike.

Meanwhile, the US Dollar Index (DXY) continued to gain 0.65% to 112.08.

In addition, Wall Street banks expect traders to look to Treasuries as the Treasury hesitates over bond repurchase plans.

At the time of writing this article, Bitcoin is trading at $20,270 and Ethereum at $1544.

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