$BTC
Tonight the Federal Reserve will again engage in the art of language
Will Bitcoin break above 106,000 and reach new highs, or drop below 100,000?
Currently, everyone basically does not expect a rate cut this time, but what really needs to be closely watched is how Powell from the Federal Reserve will speak, as well as the dot plot.
Recently, everyone has been guessing whether the Federal Reserve will end the 'Quantitative Tightening' (QT), which means no longer tightening the money in the market.
And whether there will be a rate cut this year, and by how much, these answers need to be found from Powell's words.
If he hints at ending QT or suggests a rate cut, then the stock market and Bitcoin will immediately surge because there will be more money, and everyone will be willing to invest.
But if he takes a tough stance and says they will continue to tighten the money supply, then the market will likely be shocked, and everyone will quickly move their money to safe places, like bonds and gold.
In short, tonight's meeting is a 'heavy bomb', will it be dovish or hawkish?
The key point for BTC remains around 106,000. If it can break through strongly and hold, it is expected to reach 110,000, or even challenge the new high of 130,000.
If there are multiple failures to break through, it may drop, first testing the 100,000 level, and if it breaks below, the price could fall to around 92,000 - 95,000.
Follow Hashni, who will share insights immediately tonight.