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?
- 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)