Bitcoin has been going through big price swings, recently dropping below $77,000 before bouncing back to around $83,000. These moves have been caused by regulatory issues, economic uncertainty, and large market liquidations. But the real game-changer could be just around the corner.
All eyes are now on the upcoming Federal Open Market Committee (FOMC) meeting—a key event that could shake up the crypto market. With investors on edge and speculation running high, the big question is: Will Bitcoin soar to new highs or face another drop? Here’s what you need to know.
The FOMC meeting, scheduled for March 19, is expected to provide insight into the Federal Reserve’s stance on interest rates. Experts predict that the Fed will keep rates steady at 4.25% to 4.5%, the same as in January.
Federal Reserve Chair Jerome Powell and other officials have taken a cautious approach to rate changes, pointing to ongoing economic uncertainties. Key concerns include inflation risks and the impact of President Donald Trump’s trade policies.
If the Fed holds rates steady, it could signal economic stability, encouraging investors to take more risks with assets like Bitcoin. Some analysts believe this could push Bitcoin toward its next resistance level of $95,000.
However, if Bitcoin drops below its 2024 high of around $70,000, it may follow a pattern seen in 2017, where it retested the previous year’s peak before declining further.
CryptoQuant analyst Darkfost has highlighted that Bitcoin’s open interest has surged to $33 billion, showing that many traders are using leverage to make big bets on Bitcoin’s next move.
At the same time, crypto analyst Benjamin Cowen warns that political uncertainty has led to liquidations, causing short-term price dips.
With the FOMC decision approaching, Bitcoin traders are preparing for potential volatility. Will the Fed’s stance spark a rally or another pullback? The market is watching closely.
According to our expert panel’s Bitcoin price analysis, Bitcoin is expected to trade below $85,000 today.
If the FED holds rates steady, Bitcoin could rally. A surprise hike may trigger volatility and a drop below key support levels.
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