$BTC Fed is about to speak: Will Bitcoin soar or drop?

Tonight, the FOMC meeting will decide the fate of many markets, and crypto is no exception. Although expectations are to keep interest rates unchanged, all eyes are on the Fed Chair's statement – will it be “gentle” to support growth or continue to warn about inflation? The current market sentiment is very sensitive, and BTC is the asset that is impacted first. If the Fed signals a “moderate” approach, this could be a significant boost for the cryptocurrency market.

$BTC is currently trading around 107,000 USD. This is a sideways zone before the news release. Investors can consider buying around 106,500–107,000 USD, set a short-term target at 110,000 USD, and expect 115,000 USD if the FOMC supports risk-on sentiment. Set a stop loss below 105,500 USD to guard against sudden fluctuations. Money will flow heavily right after the meeting – those who act early will be the winners.