Why is BTC hovering around 83000?

1️⃣ BTC is stuck at 83000 mainly waiting for the interest rate decision from Japan on March 19 and the U.S. on March 20, as well as the speech from Federal Reserve Chairman Powell and the dot plot. The market may drop first and then stabilize, or directly break down.

2️⃣ Impact of Japan's interest rate hike

On March 19, Japan raises interest rates, tightening monetary policy, leading funds to traditional assets, putting pressure on BTC, and the market may drop first.

3️⃣ Impact of the U.S. not lowering interest rates

On March 20, the U.S. does not lower interest rates, and the market reacts in two ways:

Negative news materializes: short-term pressure is released.

New positive expectations: anticipation of future rate cuts.

However, not lowering rates is still unfavorable for BTC, which prefers low rates.

4️⃣ Key points from Powell's speech

Powell's speech and the dot plot set the direction:

Dovish: mild speech, dot plot suggests rate cuts, BTC may rebound to 84000-85000.

Hawkish: tough speech, combined with Japan's rate hike and not lowering rates, BTC may drop below the previous low to 72000.

5️⃣ Conclusion

BTC hovers around 83000 due to the uncertainty of the interest rate decisions in Japan and the U.S. Japan's rate hike may lead to an initial drop, while the U.S. not lowering rates and Powell's speech will determine whether BTC stabilizes or breaks down.