🚨 Crypto Market Sentiment Tense as Bitcoin Braces for FOMC
‼️Dont Miss‼️
Bitcoin is consolidating around $94,000 as traders await the Federal Reserve’s decision on interest rates and Jerome Powell’s guidance. Despite a high probability of a rate hold, market volatility is expected, with analysts watching key price levels for breakout or breakdown opportunities. Powell’s tone at the FOMC press conference could trigger significant market movements, with analysts divided on the impact of his remarks.
🌟 Quick Take:
Despite the swirling fears, a breakout remains on the table. Bulls could get the green light if Jerome Powell strikes a more dovish tone or hints at cuts later this year. According to BitMEX co-founder and former CEO, Arthur Hayes, the Fed switching to quantitative easing (QE) could see Bitcoin price go parabolic. However, Bitcoin could revisit recent lows in a sharp unwind if the Fed doubles down on hawkishness. Ahead of the Wednesday FOMC meeting, the market is walking a tightrope, and all eyes are on Powell to decide which way it tips.
Data shows Bitcoin was trading for $94,474 as of this writing, down by 0.16% in the last 24 hours.
