“It’s the availability of cheap, fed liquidity that drives drives the price of bitcoin,” said Barry Bannister, managing director and chief equity strategist at Stifel. “Every single dovish pivot for the past 13 years has marked a sharp bitcoin increase, and bitcoin is a non interest bearing asset that thrives on lower interest rates and available liquidity.” To regain access, please make sure that cookies and JavaScript are enabled before reloading the page. Traders are watching the 20-day EMA for potential reversal signals.