The price of Bitcoin has fallen below $95,000 due to macroeconomic uncertainty and expectations for the Fed meeting; analysts suggest that levels around $90,000 may be tested.
The price of Bitcoin (BTC) fell below $95,000 on Monday due to increasing macroeconomic uncertainty and expectations for this week's Federal Reserve (Fed) meeting. Market experts warn that the cryptocurrency could drop to $90,000 or lower.
Technical analyses indicate lower levels
This decline came after a strong two-week rally where Bitcoin briefly surpassed $98,000, attracting interest from both individual and institutional investors. However, some analysts point out that technical and macro risks are coming together that could further pressure prices.
FxPro analyst Alex Kuptsikevich stated in an email to CoinDesk, "We have returned to a key resistance area that acted as support from December to February. The next downside targets are $92,500 and $89,000. A clean break below $90,000 would take us below the 200-day moving average, which would be damaging both technically and psychologically."
The Fed meeting will be decisive
Investors are monitoring developments in the ongoing US-China tariff negotiations and the Fed policy meeting this weekend, which could significantly affect Bitcoin prices. The Fed is expected to keep interest rates steady on Wednesday, but investors will closely watch for statements that provide clarity on economic projections and future rate cuts.
