As a note, during the press conference, Powell emphasized that The Fed will not change interest rates and will remain in the range of 4.25% to 4.5% since December 2024. Although indicating that inflation remains a major challenge, this statement is considered in line with market expectations.
In addition, the easing of quantitative easing (QE) policies by The Fed has also played a role in strengthening positive sentiment in the digital asset space. This caused Bitcoin's price to react and reach an intraday high of US$87,453.
Major stock indices such as DOW and S&P 500 also experienced gains. This indicates investor optimism towards a more accommodative economic outlook.
Tokocrypto analyst, Fyqieh Fachrur explained that Bitcoin price volatility will remain high in the coming months. "If Powell indicates a rate cut by the end of this year, Bitcoin could test the US$90,000 level. However, if monetary policy remains tight, there is a risk of a decline to US$76,000," he explained through an official statement.
BTC Bullish Pattern
In Fyqieh's identification, the bullish pattern on the daily BTC chart has the potential to drive Bitcoin's price to US$90,000. Especially if The Fed adopts a more dovish stance on monetary policy.
In addition to The Fed's policies, geopolitical factors can also play an important role in market movements. Major events such as the US government's decisions regarding crypto regulation, as well as global geopolitical conflicts, can significantly impact Bitcoin's price movements.
Currently, Bitcoin continues to show its appeal as a major investment asset amid global economic uncertainty. With a market dominance of 60.7% and a capitalization reaching US$1.73 trillion, investor interest remains high.
However, investors need to pay attention to various factors that can affect prices, including monetary policy, institutional inflows, and geopolitical dynamics. For investors looking to capitalize on this volatility, understanding the support level at US$80,000 and resistance levels at US$85,500 and US$87,000 is key to making more prudent investment decisions.