WILL BITCOIN PRICE BOUNCE BACK AFTER FED'S DECISION TO MAINTAIN STEADY RATES?

Bitcoin's price has indeed bounced back after the Federal Reserve's decision to maintain steady interest rates at 4.50%. The cryptocurrency's value briefly slid below $104,000 on Tuesday and Wednesday but rebounded slightly after the Fed's announcement, approaching the $105,000 mark.

Key Factors Influencing Bitcoin's Price:

-Fed's Interest Rate Decision: The decision to keep interest rates steady has eased some of the sell pressure on Bitcoin, contributing to its price recovery.

Demand Levels: Bitcoin's demand has shown signs of recovery, with the fear and greed sentiment bouncing back to 57 (greed) from 52 (neutral) on Wednesday.

Market Sentiment: Analysts predict a potential bullish breakout, citing a divergence between Bitcoin's stable price and falling open interest, which suggests a healthy market reset.

Resistance Levels: A decisive break above $105,500 could signal momentum toward $107,000, while holding $104,000 remains key for bullish continuation .

Expert Insights:

- CryptoQuant analysts highlight emerging tailwinds for Bitcoin, including a healthy market reset indicated by falling open interest and growing ask liquidity near $106,000, which could trigger a short squeeze.

- The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators suggest balanced momentum with no immediate overbought or oversold conditions .#SwingTradingStrategy #PowellRemarks #Fed $BTC