Big day for Bitcoin as the Fed hosts its 2nd Thomas Laubach Research Conference. 🔥
Markets are watching closely — what's the next move for $BTC ? 👀💥
➡️ BTC continued its recent sideways trend, fluctuating near $102K. $105,745 resistance level is the next key hurdle for Bitcoin. A successful breakout above this level could trigger a significant rally toward $109,178 and beyond. 📈
Several bullish factors support this outlook 👇
1️⃣ Institutional accumulation is gaining momentum, with large players consistently buying $BTC at current levels.
2️⃣ On-chain data reveals growing long-term holdings, tightening the supply available on exchanges. The holders of 10-10,000 $BTC have accumulated almost 83,105 BTC over the last month.
3️⃣ Macro conditions remain favorable for Bitcoin as a hedge, amid persistent inflation concerns and ongoing geopolitical uncertainty.
4️⃣ Tonight, attention turns to the Federal Reserve's second Thomas Laubach Research Conference, where Fed Chair Jerome Powell will deliver opening remarks. Markets will be listening closely to see if Powell addresses DonaldTrump’s May 13 call for rate cuts, though expectations are that he will maintain his usual stance and resist political pressure.
According to CME data, there is a 91.7% probability that the Fed will keep rates unchanged in June.
