Bitcoin has to close more than the key $ 81,000 weekly level to avoid more volatility in advance of next week’s Federal Open Market Committee (FOMC) meeting, which will offer investors more clues to the Federal Reserve’s financial policy for 2025.
Bitcoin (Btc) Price fell over 3% in the past week, to trade above $ 83,748 to 9:33 AM at UTC, Cointelegraph Markets Pro Data displays.
The price of Bitcoin continues to risk significant volatility of volatility due to the growing macroeconomic uncertainty around the world’s trade tariffs, according to Ryan Lee, chief analyst in Bitget Research.
BTC/USD, 1-year chart. Source: Cointelegraph
Closing the week above $ 81,000 will be the key to avoiding more Bitcoin Downside, the analyst told Cointelegraph, adding:
“The main level to watch for the weekly close is $ 81,000 range, holding the upper signal of being stable, but if we see a fall below $ 76,000, it can invite more short-term sale pressure.”
Analyst comments will come days before the next FOMC meeting scheduled for March 19. The markets are currently pricing a 98% chance that the FED will maintain interest rates, according to the latest estimates of the CME Group’s Fedwatch Tool.
Source: CME Group’s Fedwatch Tool
The outcome of the assembly can significantly affect the emotion of the Bitcoin investment, Lee says, adding:
“The market hopes that the Fed will hold rates firmly, but any unexpected Hawkish signals can put pressure on Bitcoin and other risk ownership.”
“Even a strong surprise, such as a cutting rate, may not be the immediate strengthening of some hope, as investors are still weighing macro uncertainty,” the analyst added.
Related: US Rep. Byron Donalds to introduce Bill Codifying Trump’s Bitcoin Reserve
Bitcoin Close above $ 85k can reign investor optimism for more upside down: Analyst
Other analysts see a silver lining on the motionless price of bitcoin price.
A weekly near above $ 85,000 can inspire more investor confidence and lead to the next breakout, according to Enmanuel Cardozo, market analyst on the Brickken real-world asset tokenization platform.
The market analyst said in cointelegraph:
“Entrepreneurs and investors alike look at $ 80,000 support and the $ 85,000 – $ 90,000 resistance, with a break above the late potential spark of a strong upward movement.”
While the short-term Bitcoin momentum may be limited by the upcoming economic release, regulation development around the Trump’s Bitcoin reserve plan may gradually bring more market optimization and mass adoption, analyst added.
Related: Next Bitcoin catalyst: Ending $ 36T US Debt Ceiling Suspension
Trump’s Bitcoin Reserve came to a step closer to the fruit on March 14, after US Representative Byron Donalds introduced a bill That aims to ensure that the Bitcoin reserves become a permanent fixture, preventing future administrations from dismantling it through executive action.
If the bill is passed, it will ensure that the strategic bitcoin reserve and the US digital asset stockpile will not be eliminated by the executive actions of a future administration.
The bill will require at least 60 votes in the Senate and a home with most of the house. Included Republicans holding most of the Senate -And amid a general more crypto-friendly environment-the bill has the opportunity to be passed.
https://www.youtube.com/watch?v=AV7xioy4zvc
Magazine: SCB Tips $ 500K BTC, SEC Densterns Ether ETF Options, and More: Hodler’s Digest, Feb. 23 – March 1
