Bitcoin in Holding Pattern Ahead of Fed Rate Decision

by Ouess

Bitcoin (BTC) continues to trade sideways between $116K-$120K, showing resilience despite recent volatility. All eyes are now on Wednesday’s Federal Reserve interest rate decision, which could spark the next big move.

Key Market Developments

✅ Corporate demand strong: MicroStrategy added 21,021 BTC (now holds 628,791 BTC)
✅ ETF inflows continue: $79.98M inflow Tuesday (4th straight positive day)
✅ SEC approves in-kind creations: Big win for Bitcoin/ETH ETPs
✅ White House policy report coming Wednesday

Why the Fed Meeting Matters

While rates are expected to remain unchanged, traders are watching for:
🔹 Powell’s comments on future policy
🔹 Hints about rate cuts later this year
🔹 Market reaction to economic outlook

Bitcoin Price Outlook: Breakout Coming?

BTC Price Source : TradingView

  • Current price: ~$118,000
  • Support: $116,000 (breakdown could test $112,736)
  • Resistance: $120,000 (breakout could retest ATH at $123,218)

Technical signals show mixed momentum:
📉 MACD bearish crossover (short-term caution)
📈 RSI at 58 (still bullish but fading)

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