Bitcoin Hits $97K Ahead of Fed Decision: Will Powell’s Speech Spark a Rally or Pullback?

Bitcoin surged past $97,000 overnight, fueled by bullish momentum ahead of today's critical Federal Reserve FOMC meeting. Investors are closely watching Chair Jerome Powell's remarks, which could determine whether BTC breaks the $100K barrier or faces a correction. Analysts suggest a dovish tone might propel Bitcoin higher, while a hawkish stance could lead to a dip towards $91.5K support levels.

Despite the recent rally, technical indicators show mixed signals. The Coinbase Premium has dipped to -5.07, indicating cautious sentiment among U.S. investors. However, strong on-chain metrics, with 88% of BTC supply in profit, suggest underlying strength.

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