Investing in Web 3.0: What You Need to Know as Bitcoin Price Settles at $26.5K

Bitcoin (BTC) closed at around $26,500 after reaching new September highs and then settling down. As people are looking to invest in Web 3.0, understanding the key components of this new technology is essential. Questions such as “is crypto part of Web 3.0” and “how to get into Web 3.0” are being asked, as well as whether the Metaverse is part of this new web. To gain a better understanding of Web 3.0 and the next generation of online business, people may want to read the best books on the subject.

Bitcoin stabilizes volatility on weekly close

Data from Cointelegraph Markets Pro and TradingView showed BTC price stabilizing over the weekend.

The biggest cryptocurrency had reached its peak of the month, $26,880, two days before.

Commenting on the Binance BTC/USD order book, trader and analyst Credible Crypto observed a cluster of bids sustaining the market.

“Some seller absorption happening here- this level being defended atm,” he wrote on X (formerly Twitter).

As the market consolidated, trader Crypto Tony outlined two potential scenarios, with $26,000 remaining as support.

“I am still looking for that dip down to $26,100 and a bounce for a long trigger,” he informed X subscribers.

Trader Skew pointed out that spot entities were selling into bounces, when analyzing exchange behavior in more detail.

Can FOMC shift BTC price range?

The Federal Open Market Committee (FOMC) meeting on Sept. 20 is set to decide benchmark interest rates, and markets are expecting them to remain unchanged. CME Group’s FedWatch Tool puts the odds of a surprise scenario at just 2%.

Crypto market participants have been closely watching the event from the United States Federal Reserve, and Bitcoin has recently cooled its kneejerk reactions to macro data prints. As a result, some believe that the status quo will remain even after the FOMC meeting.

Popular trader Crypto Santa commented that “next weeks FOMC and Interest Rate decisions should induce some volatility, but BTC will likely continue to trade within $25k – $27k in the short-term…”.

Investors who are looking to get into Web 3.0, a next generation of online business, may want to know about the key components of this technology and how to best invest in it. The Metaverse is also a part of the Web 3.0 ecosystem, and Genshin Impact’s Web Event 3.0 is a great opportunity to learn more about it.