As the FED interest rate decision approaches, the attention of the cryptocurrency world is focused on this critical piece of news. Expectations are that Jerome Powell's statements will have an impact on the market.
Focus on the FED Decision
The general consensus is that the FED will leave interest rates unchanged. However, analysts expect that statements by FED Chairman Jerome Powell will significantly impact Bitcoin and altcoins.
Are Surprises Expected from the FED?
QCP Capital analysts do not anticipate surprises in terms of a rate cut. However, positive signals and dovish comments from Powell could trigger a short-term rally. Conversely, a hawkish stance could pressure Bitcoin and lead to significant losses in altcoins.
Key Levels for Bitcoin
Ryan Lee, chief analyst at Bitget Research, notes that Bitcoin remains in a tight range. Depending on investors' reactions after the FED decision, it could reach either $75,000 or $90,000. These levels are equally likely, and market dynamics will depend on the news landscape. *This is not investment advice.
With the FED decision and Jerome Powell's remarks on the horizon, crypto traders brace for possible volatility. Attention to key levels and the effect of global liquidity conditions may dictate the future trajectory of Bitcoin.
