The crypto market is closely monitoring the Federal Reserve’s upcoming policy decision, with a consensus anticipating the benchmark interest rate to remain steady. This readjustment comes in light of various economic indicators, notably sluggish growth, persistent inflation, and evolving trade policies. Should the Fed fail to align with market expectations regarding a dovish stance or signal potential delays in interest rate cuts, we could witness a brief downward correction in Bitcoin’s price.
As per analyses from Bitunix, critical levels for Bitcoin have emerged, identifying a support threshold around $80,000 and a resistance ceiling set at $85,000. A breach of the resistance level may propel BTC towards a target of $88,000. Conversely, should it dip below the support level, traders must exercise caution, as a retreat to $77,500 could ensue. Investors should strategically assess their asset allocations and adhere to prudent risk management practices to navigate this volatile landscape.