It’s a major day for the crypto market on March 18, as key U.S. economic events line up within hours. With inflation data, the Federal Reserve’s rate decision, and Jerome Powell’s speech all scheduled closely together, traders are preparing for sharp moves across Bitcoin and altcoins.
The day begins with the release of the U.S. Producer Price Index (PPI), where expectations stand at 2.9% for headline PPI and 3.7% for Core PPI.
This data will offer a fresh read on inflation pressures at the producer level. Any upside surprise could strengthen concerns that inflation remains persistent, especially as geopolitical tensions have already started pushing short-term inflation expectations higher. A softer reading, however, may provide early relief to markets and support risk appetite.
The FOMC rate decision is at 2:00 PM ET, followed by Jerome Powell’s speech at 2:30 PM ET, with a 99% expectation of no rate change, shifting focus to projections and the dot plot as earlier forecasts are outdated due to recent global developments.
Market reaction guide: if rates come below 3.75%, markets may rally sharply; at 3.75%, reaction may stay flat; above 3.75%, markets could drop hard.
Rising inflation expectations after the US-Iran conflict remain in focus, where a stricter stance from Powell could pressure markets, while calling it temporary may support rate cuts and push markets higher.
Bitcoin trades near $74,000 below $75,000–$76,000 resistance, with long positions building between $74,000 and $76,000.
Below ~$73,900, these longs face pressure, raising the risk of a sharp downside move if support breaks. Support lies near $73,400, with a break below $73,500 targeting $71,000 and possibly extending to $70,000.
A move above $74,450 could push the price toward the $75,700–$76,000 resistance. A confirmed breakout above $76,000 may open the path toward $79,000–$80,000.
Ethereum is showing relative strength in comparison. After a recent breakout attempt, it approached the $2,340–$2,350 range before pulling back slightly.
Support is seen between $2,150 and $2,200, while a move above the $2,380–$2,400 zone could open the door for further upside. A drop below $2,290, however, may lead to renewed selling pressure.
The altcoin market remains mixed with a slight bullish bias. BNB is attempting a breakout near $665, with higher targets if momentum builds. XRP continues to hold above $1.50 and is testing resistance levels that could define its next move. Solana is approaching a key breakout zone near $97–$98, while Cardano and Dogecoin remain in consolidation phases, awaiting stronger directional cues.
The FOMC decision can drive volatility. Dovish signals may push crypto higher, while a hawkish stance or higher rates could trigger a sharp sell-off.
The FOMC rate decision is at 2:00 PM ET, followed by Jerome Powell’s speech at 2:30 PM ET, both critical for short-term crypto volatility.
If the Fed signals rate cuts, Bitcoin may rally. A hawkish stance or higher rates could push BTC lower due to tighter liquidity conditions.
Yes, major Fed signals often trigger sharp moves. A dovish surprise may spark a breakout, while hawkish tone could lead to rapid sell-offs.
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