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Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrows Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.

The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cutthe first in over a decadewhile a dominant 95.6% anticipate rates to hold steady between 525-550 basis points.

According to The Kobeissi Letter, current market data indicates a 36% probability that there will be no interest rate cuts this year. Four months ago, the likelihood of maintaining current rates was only about 3%.

Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.

Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.

The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarters 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.

Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.

Bitcoins trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.

A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Feds key decision.

The market also observed a notable slowdown in spot Bitcoin ETF inflows, with BlackRocks iShares Bitcoin Trust (IBIT) pausing new inflows for several daysa first since its debut. Meanwhile, other funds have seen continued outflows, including Grayscale Investments.

Bitcoins price has been static since the fourth halving event. According to data from CoinGecko, Bitcoin is currently trading at around $60,100, down over 6% in the last 24 hours, and will likely end its continuous growth streak, which has lasted since last September.

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Bitcoin price wobbles ahead of Fed's rate decision - Crypto Briefing

Bitcoin (BTC) heads into the April monthly close on an uncertain footing as BTC price action falls to 10-day lows.

The largest cryptocurrency continues to tread water beneath significant resistance levels after a week of sustained selling during Wall Street trading hours.

Macro and geopolitical instability have added to what has become a potent mixture for Bitcoin bulls to grapple with this month can they turn things around?

The April candle close has just days left to avoid becoming Bitcoins worst month of 2024 so far.

The immediate landscape remains problematic seller interest between the spot price and new all-time highs is considerable, and while price discovery is only around $12,000 away, such levels seem firmly out of reach.

Market observers are thus looking the other way to key areas of support should downside pressure keep piling on.

Optimists argue that BTC/USD is merely ranging, meanwhile, and that time will produce a bull market continuation of the sort enjoyed in Q1.

Its comeback may be helped by a dose of deja vu this week less than four months after the United States, Hong Kong is set to launch its own spot Bitcoin exchange-traded funds (ETFs).

Cointelegraph takes a look at these key topics and more in the weekly rundown of all things BTC price-related.

The weekly close provided little respite for battered Bitcoin traders as BTC/USD continued dropping into the Asia session.

Hitting lows of $61,943 on Bitstamp, per data from Cointelegraph Markets Pro and TradingView, the pair thus saw its lowest levels since April 19.

The week prior, relief bounces toward $65,000 had repeatedly encountered selling pressure around the Wall Street open which commentators including popular trader Skew attributed to U.S. automated trading algorithms.

I do see the potential for longer crab between $67K - $58K till proper flow supported breakout, he continued in fresh analysis on X on April 29.

Bears have so far failed to keep the market below $60,000 for long. Even at current levels around $62,000, however, April is on track to deliver more than 12% losses.

Data from monitoring resource CoinGlass confirms that this would make it Bitcoins worst-performing month since November 2022 the height of the latest bear market.

Skew continued that wherever it ends up, the monthly close would form a key new BTC price focus in its own right.

1M close is in 2days roughly, following that close monthly & weekly open will act as very pivotal levels, he wrote, describing one-month timeframes as not bad at all and reiterating the significance of $58,000 as support.

Significant macroeconomic events keep coming this week with the next interest rates decision by the United States Federal Reserve.

While markets expect no surprises from the latest meeting of the Federal Open Market Committee (FOMC), recent macro data prints have concerned risk-asset bulls. Lower rates may come much later than anticipated at the start of the year, they fear, as shown in estimates from CME Groups FedWatch Tool.

We have a massive week ahead of us, trading resource The Kobeissi Letter summarized in its weekly macro outlook thread on X.

It is not just FOMC; headlining the weeks macro events is accompanying commentary from Fed Chair Jerome Powell on May 1, followed by jobless claims and unemployment data on May 2 and 3, respectively.

For Bitcoin and risk assets, however, all may not be so bad unless views turn to favor a significant worsening of economic circumstances.

Worst case scenario would be consecutively bad spells for risk assets & potentially leads to bets of economy somehow breaking apart, Skew explained about the outlook.

Some signs of stress are clearly apparent this week. The U.S. witnessed a fresh regional bank failure, while in Japan, the yen hit its lowest levels against the dollar since 1990 in flash volatility, passing 160 before rebounding.

Sticking in Asia, the coming week marks a seminal moment in Bitcoin institutional adoption.

Like the U.S. in January, Hong Kong is about to open the doors to spot Bitcoin ETFs and anticipation of copycat interest and price impact is already building.

Citing a 2022 report from crypto exchange Huobi, Willy Woo, creator of on-chain statistics platform Woobull, underscored what could be serious demand for spot ETF products.

The Asian market in user count is BIGGER than the US and European markets combined, part of an X post noted.

In a preliminary report on the upcoming release, blockchain research and advisory group House of Chimera put potential inflows at $25 billion, citing estimates from crypto financial services platform Matrixport.

The substantial capital potential might lead to increased liquidity and possibly stabilize Bitcoin prices, it wrote on X.

House of Chimera noted that investor participation from mainland China which would represent a key turnaround in a country that has repeatedly attempted to quash crypto activity could end up restricted due to regulatory hurdles.

While the introduction of Bitcoin ETFs in Hong Kong is a landmark development, its success and impact on the broader market will depend heavily on regulatory environments, investor sentiment, and macroeconomic factors influencing cryptocurrency valuations, it concluded.

As Bitcoin lingers close to significant support levels among them, $60,000 and $58,000 one trendline, in particular, is beginning to stand out as a line in the sand.

As Cointelegraph reported, the aggregate cost basis of Bitcoins short-term holders (STHs) is now of interest to analysts.

This investor cohort corresponds to entities holding a portion of BTC for a maximum of 155 days, essentially making up the speculative end of the investor spectrum.

STH realized price, currently at just under $59,800, now forms a key level to watch. Throughout the recovery from 2022 bear market lows, it has acted as support, with only a brief period in September 2023 breaking the paradigm.

Will it hold as support this time? Philip Swift, creator of on-chain data platform Look Into Bitcoin, queried.

Two mid-term exponential moving averages, or EMAs, which form what is known as the bull market support band, are meanwhile also lining up to act as damage control in the event of a deeper retracement.

As we keep consolidating, the bull market support band is catching up to price, popular trader Daan Crypto Trades wrote in his latest post on the topic.

In a potential sign of encouragement despite lackluster BTC price action, smaller retail investor interest is returning.

Related: Crypto trader sees best altseason since 2017 as Bitcoin price cools

As noted by Checkmate, the pseudonymous lead on-chain analyst at on-chain data platform Glassnode, wallets with less than 100 BTC are busy increasing exposure.

He referred to data from his own resource, Checkonchain, which showed 30-day rolling wallet balances flipping positive on April 8 for the first time since mid-January.

The Bitcoin retail holders, who are apparently degenerates who will sell on the first sign of a correction... ...appear to be stacking sats once again, he concluded.

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.

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Worst month since 2022 bear market? 5 things to know in Bitcoin this week - Cointelegraph

Theres a very slight chance that Bitcoin has already reached its peak this cycle at the $70,000 mark, according to the exponential decay pattern floated by veteran trader Peter Brandt.

Of course, many other price models and predictors suggest Bitcoin (BTC)is still far from its cycle peak and could instead top out at the $210,000 mark before the end of the bull run.

On April 27, veteran trader and analyst Peter Brandt posted a theory suggesting that Bitcoins bull market cycles have exhibited an exponential decay pattern.

This occurs when each successive cycle has a peak price of only around 20% of the previous cycles peak gain. The data shows that this has happened in the last three Bitcoin market cycles.

Worded another way, 80% of the exponential energy of each successful bull market cycle has been lost, said Brandt.

Based on this decay rate, Brandt estimated the current cycle would only see a 4.5x gain from the low of around $15,500. Thus, the cycle top has been projected to be around $70,000 a level it already reached in March when prices topped $73,000.

However, Brandt isnt fully convinced by this theory, assigning a 25% probability that BTC has already peaked this cycle.

Others argue that alternate models also blow this theory out of the water.

On April 29, CEO and director of research at Quantonomy, Giovanni Santostasi, rebutted the exponential decay theory with one of his own based on long-term power law behavior.

Commenting on Brandts theory, he said, We have only 3 data points if we exclude the pre-halving period and actually only 2 data points if we consider the ratios, before adding, This is hardly enough data to do any significant statistical analysis.

Santostasi measured the percentage deviation of price peaks from the long-term power law trend, extrapolating a different exponential decay pattern.

A power law is a functional relationship where one quantity varies as a power of another quantity, in this case, BTC price over time.

Related: How high can Bitcoin go? New BTC price prediction sees cycle top at $180K

Using the figures extrapolated from the genesis block, this price model predicts a fourth cycle peak around December 2025 of around $210,000. The predicted bottom for the next cycle is around $83,000, based on historical observations, he said.

The analysis combines the power law trend, four-year halving cycles, exponentially decaying peak heights and other factors into an integrated model for Bitcoin price predictions.

Many more have made predictions about the Bitcoin peak during this cycle. Swyftx lead analyst Pav Hundal told Cointelegraph that Bitcoin would at least double by the next halving in 2028, estimating a price of around $120,000.

Meanwhile, CEO of Acheron Trading and quantitative trading strategies expert Laurent Benayoun anticipates a potential cycle top of $180,000.

Fidelity Digital Assets revised its medium-term outlook for Bitcoin on April 22, stating that it is no longer cheap.

At the time of writing, BTC was trading at $62,528, down 15% from its all-time high in mid-March, according to CoinGecko.

Magazine: Get Bitcoin or die tryin: Why hip hop stars love crypto

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Bitcoin top $70K or $210K? Analysts, price models clash over BTC cycle peak - Cointelegraph

HUNTSVILLE, Ala. (WHNT) The Huntsville Police Department says its eight-person crime scene investigation team has worked in cramped quarters for years. However, a new 14,000-square-foot building is on the way to provide relief for the team.

The Huntsville City Council approved the buildings construction at their meeting Thursday evening.

The City of Huntsville says the building, which will be constructed on Wheeler Avenue across from HPD headquarters, will include labs, offices, evidence processing areas and vehicle processing bays.

We have the advanced technology in place for crime scene analysis, but we need dedicated space to be more efficient and process evidence faster, said Police Chief Kirk Giles.

The project also includes a 13,500-square-foot, climate-controlled vehicle and evidence storage facility.

The law requires us to hold evidence for years, and in some cases in perpetuity, said Investigator Jeremy Phipps. The new warehouse will allow us to meet legal storage requirements for decades to come.

Phipps added that the new CSI facility will meet the departments need for growth, saying that the additional space will allow for more room to work more than one case at a time while protecting evidence from cross-contamination.

The City says the $9.7 million project is expected to begin in the late spring and take a year to complete.

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Huntsville Criminal Investigation Division to get new building across from HPD headquarters - WHNT News 19

Ozzy Osbournes place in music history has been solidified, as he and Black Sabbath are often credited as the first heavy metal band. Releasing 19 studio albums over five decades, the Prince of Darkness has won two Grammys (plus a Grammy Lifetime Achievement Award), influenced countless of the most well-known bands in the genre and, you know, bit the head off of a bat. His eccentric personality and wild look made him the perfect choice for several great TV and movie appearances over the years, and here are 10 of the best.

While the Black Sabbath frontman has been known to portray characters lending his voice to several animated projects Ozzy Osbourne is a character in and of himself, and many of his best offerings feature the Godfather of Metal just being Ozzy.

Adam Sandler boasts a pretty impressive catalog of projects that span multiple genres, but the 2000 action comedy Little Nicky is not considered one of his greatest. It still has developed a cult following over the years for its ridiculously devilish story and bevy of celebrity cameos. One of the famous faces to make an appearance is Ozzy Osbourne, who Nicky summons after his brother Adrian (Rhys Ifans) transforms into a bat. You can imagine where things go from there.

Rent or buy Little Nicky on Amazon Prime Video.

Years before the Kardashian-Jenner bunch became the royal family of reality TV, America fell in love with The Osbournes. The MTV series captured what it was like to live with Ozzy Osbourne, his wife Sharon and two younger children, Jack and Kelly. The show lasted for four seasons and made household names of all of them, but more importantly it gave us a different perspective on the Prince of Darkness. It was hilarious to see Ozzy bumbling around helplessly, calling out for, Sharon!

The Osbournes is not available to stream or buy, but you can stream their 2020 series The Osbournes Want to Believe on Max.

Mike Myers got in on The Osbournes craze back in the early aughts in the third movie of his shagadelic trilogy, Austin Powers in Goldmember. Repeating a bit from the 1999 sequel that involved a phallic-shaped rocket, Goldmember features Dr. Evil shooting down a satellite shaped like a pair of breasts. An amusing montage of double entendres ensues, eventually cutting to Ozzy shouting, Boobs! He then explains to his family members sitting next to him that the Austin Powers filmmakers are boobs because they already used that joke in The Spy Who Shagged Me.

Your Daily Blend of Entertainment News

Rent or buy Austin Powers in Goldmember on Amazon Prime Video.

Howard Sterns autobiographical film Private Parts featured a number of celebrity cameos, and while Ozzy Osbourne only uttered a single sentence in the film What a fucking jerk. it remains one of the 1997 flick's most quoted lines.

Stream Private Parts on Apple TV+. Rent or buy Private Parts on Amazon Prime Video.

The sequel to the DreamWorks animated hit Trolls highlighted a number of different genres of music, and that means there were some big names in the Trolls World Tour voice cast, including Mary J. Blige, J Balvin, Kelly Clarkson, George Clinton and, of course, Ozzy Osbourne. The Black Sabbath frontman voiced King Thrash, the retired king of hard rock, with the effects of his wild rock star lifestyle made evident through Osbournes signature nonsensical mumbling and his use of a motorized wheelchair, aka his mobile throne.

Rent or buy Trolls World Tour on Amazon Prime Video.

Ozzy Osbourne and Black Sabbath premiered the second single off their reunion album 13 during an episode of CSI: Crime Scene Investigation. In the Season 13 episode Skin in the Game, Ted Dansons D.B. Russell and Marc Vanns Conrad Ecklie attend a Black Sabbath concert while investigating a string of murders. On stage the band sings End of the Beginning, before the singer sits down with one of the suspects for an interview. The interviewer mentions that theyve spoken before, back in 1986, to which Ozzy hilariously replies that he doesnt remember not just the conversation, either, but the entirety of 1986.

Stream CSI: Crime Scene Investigation on Hulu. Stream CSI: Crime Scene Investigation on Paramount+.

Ozzy Osbourne has made a few stops in the world of professional wrestling, even becoming a celebrity inductee to the WWE Hall of Fame in 2021. Hes also one of several celebrities who have appeared in WrestleMania managing the British Bulldogs as they secured the World Tag Team Championships at the 1986 pay-per-view event. In November 2009, he and wife Sharon Osbourne served as guest hosts on WWE Raw, where they did a spin on Sharons gig as a judge on Americas Got Talent and turned the ring into a judges table for Raws Got Talent.

Stream WWE Raw on Peacock.

Talk about playing off-type! Ozzy Osbourne may be known for portraying himself in many of his TV and movie appearances, but the 1986 comedy horror Trick or Treat brilliantly cast the Prince of Darkness in a role nobody would expect a TV evangelist. Its hilarious to watch the Rev. Aaron Gilstrom clutch his proverbial pearls at suggestive song lyrics and proclaim that the rock stars have to be stopped!

Stream Trick or Treat on Screambox.

Two things you may not think about when it comes to the Godfather of Metal are animated deer and Shakespeare, however, those worlds collided in Gnomeo & Juliet, the animated reimagining of Romeo & Juliet. Ozzy Osbourne voices Fawn, the miniature deer statue and best friend of Tybalt.

Stream Gnomeo & Juliet on Disney+. Stream Gnomeo & Juliet on Hulu. Rent or buy Gnomeo & Juliet on Amazon Prime Video.

Johnny Brennan and Kamal Ahmed came to fame in the 1990s as the Jerky Boys comedy duo, who developed a following for making prank phone calls. After a couple of comedy albums, the duo made a movie, appropriately titled The Jerky Boys: The Movie. Ozzy Osbourne makes an appearance as the manager for the band Helmet. Johnny and Kamal convince the manager that theyve replaced two roadies who left to go on tour with The Monkees. Say what you will about the movie overall, but Ozzys utter disbelief that he got shunned for the fuckin Monkees?! is pretty funny.

Rent or buy The Jerky Boys: The Movie on Amazon Prime Video.

Whether you prefer Ozzy Osbourne behind the microphone or in front of the camera, theres no denying that the Prince of Darkness can entertain, as hes been doing so for half a century now.

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10 Best Ozzy Osbourne Movie And TV Appearances - CinemaBlend