#BTCBreaks99K Main growth factors:
• U.S. Federal Reserve decisions: The Federal Reserve kept interest rates unchanged, contributing to the rise of risk assets, including cryptocurrencies.
• Demand for Bitcoin ETFs: Institutional investors are actively buying shares of spot Bitcoin ETFs, increasing confidence in the market.
• Technical indicators: Bitcoin is trading above the 100-hour simple moving average, and MACD and RSI indicate further growth potential.
• Macroeconomic news: Announcements about upcoming trade negotiations between the U.S. and China have boosted market optimism.
What's next?
Analysts believe that overcoming the $100,000 level is just a matter of time. However, short-term corrections are possible, with support at $95,000 and $97,700.
Overall, the current situation indicates a strong bullish sentiment in the Bitcoin market, with the potential to reach new all-time highs in the near future.