Bitcoin analysts are bracing for heightened price volatility in anticipation of the Federal Open Market Committee (FOMC) interest rate decision and press conference. Despite expectations of rates remaining unchanged, short-term market turbulence is expected.
BTC/USD 1-hour chart. Source: TradingView
Bitcoin Holding Steady at $27K
Bitcoin maintained its position around the $27,000 mark as the crucial macroeconomic event of the cryptocurrency trading week, the FOMC decision, approached.
Market analysis suggests that liquidity around the Bitcoin spot price is relatively thin, with potential for bid-side walls and more volatility. The subsequent statements and press conference by Fed Chair Jerome Powell are anticipated to trigger “spicy” Bitcoin price action.
BTC/USD order book data for Binance. Source: Material Indicators/X
Key Levels in Focus
Bitcoin traders are closely monitoring key levels, with $26,800 identified as a critical support zone to maintain long positions. Traders are prepared for potential challenges to range levels as a reaction to the FOMC announcement.
BTC/USD annotated chart. Source: Crypto Tony/X
Bitcoin’s price analysis points to an atmosphere of anticipation and readiness for significant price movements following the FOMC decision, even as expectations of unchanged interest rates remain high.