Powell Stays at the Fed: BTC $73K Test
BTC/USDT
$12,288,404,881.29
$77,500.00 / $75,876.29
Change: $1,623.71 (2.14%)
+0.0043%
Longs pay
Contents
Fed Chair Jerome Powell made a striking admission in the press conference held after the interest rate decision. Despite planning to step down from his presidency ending in May, he announced that he will continue to serve as a governor on the central bank's board due to ongoing legal reviews and political tensions. The Fed formalized its decision to keep interest rates steady in the %3,5-3,75 range. Powell expressed his concerns by saying, “These attacks are damaging the institution's reputation and putting at risk the conduct of monetary policy independent of political factors.” As markets try to digest these statements after the decision, risky assets remained under pressure.
Powell's Term Continuation and Trump Pressure
Powell’s plans to hand over his duties were disrupted by the Trump administration closing the criminal investigation into Powell. Attorney General Jeanine Pirro stated that the file will remain under review in the Fed Inspector General's office and could be reopened with new evidence. Recent statements from President Trump and his team suggested that legal pressure on Powell is still ongoing. Powell emphasized that under these conditions he has lost the chance to leave, and although he prefers to keep a low profile, he has no other option. This uncertainty casts a shadow over the Fed's independence, unsettling crypto investors. Check current data for detailed BTC analysis.
Fed Interest Rate Decision: Hawkish Emphasis and Dissent
As expected, there was no change in the interest rate decision, but the dissent of three board members against easing with a hawkish stance drew attention. The hawkish emphasis in the decision text cooled easing expectations in the markets and curbed risk appetite. Bitcoin (BTC) slipped below the $75.541,45 level, signaling a test of the $73.000 support; figures like Trump, Pirro, and 21shares analyst Matt Mena are closely watching these developments.
BTC Technical Analysis: Current Price and Trend
Currently, BTC price is at $77,346.81, showing a +1.55% rise in the last 24 hours. RSI at 58.74 is in the neutral zone, overall trend is sideways but Supertrend is giving a bearish signal. EMA 20: $75,712.0653. If momentum recovers, the $85.000-$90.000 band could be targeted. Evaluate risks for BTC futures.
Support and Resistance Levels Table
| Level | Price | Score | Distance | Sources |
|---|---|---|---|---|
| S1 (Strong Support) | $75,629.3375 | 80/100 ⭐ | -2.24% | EMA 20, EMA 100, Fibo 0.500, S3 |
| S2 (Strong Support) | $71,926.0831 | 75/100 ⭐ | -7.03% | Fibo 0.382, Value Ar |
| R1 (Strong Resistance) | $79,453.6711 | 91/100 ⭐ | +2.71% | Fibo 0.618, Donchian Upper, Swing High, ATR Upper |
| R2 (Strong Resistance) | $77,697.2900 | 65/100 ⭐ | +0.43% | LV |
Market Risks: Fed Independence and BTC
Mena predicts that the three dissenters' opposition to the interest rate cut guidance surprised the markets, but with a possible policy shift by Kevin Warsh, the CLARITY Act's path could be opened. These signals indicate that uncertainties regarding the Fed's independence could further affect crypto markets. Despite the bearish Supertrend, the neutral RSI carries short-term recovery potential.
Strategy Recommendations for BTC Investors
S1 support at $75.6K is strong; if broken, S2 at $71.9K could be tested. If R1 at $79.4K is surpassed, the upside will accelerate. While risky assets remain under pressure, the BTC spot market should be monitored. Volatility may increase as Fed tensions continue.