A naukri.com initiative
Coinjournal
3w
179
Image Credit: Coinjournal
Bitcoin price forecast: BTC holds above $105k ahead of FOMC
- Bitcoin's price remains above $105k amidst the ongoing Middle East crisis.
- Traders are closely monitoring the outcome of today's FOMC meeting, expecting potential market movements.
- Despite the bearish trend in the cryptocurrency market due to the Israel-Iran crisis, Bitcoin has shown resilience with only a 1.4% loss in 24 hours and a 4% loss over the past week.
- Investors' bullish sentiment is reflected in BTC holding steady at around $105k.
- Securing Bitcoin in a reliable digital wallet is essential for asset protection.
- The focus shifts to the FOMC meeting where interest rate decisions and their impact on the economy will be discussed.
- Analysts anticipate the Fed to maintain interest rates, but any unexpected signals could influence Bitcoin's price.
- Bank of America economist highlights the Fed's stance amidst evolving economic conditions.
- Bitcoin's resilience is supported by institutional interest, with companies like Metaplanet and Strategy increasing their Bitcoin holdings.
- US spot Bitcoin ETFs have seen significant inflows, indicating robust demand from financial institutions.
- Technical analysis suggests Bitcoin could rally towards $108k with the 50-day EMA providing support.
- Indicators like RSI and MACD show mixed signals but hint at potential price movements based on trader sentiment.
- A potential BTC recovery above $108,064 could pave the way for retesting the all-time high of $111k.
- The article was originally published on CoinJournal.
Read Full Article
10 Likes
For uninterrupted reading, download the app