Bitcoin must close above the $81,000 key weekly level in order to prevent more volatility before next week’s Federal Open Market Committee meeting (FOMC), which will give investors additional cues about the Federal Reserve monetary policy 2025.
BitcoinBTCCointelegraph Markets: During the last week, price of, fell by over 3%, trading at $83,748. Pro The data show.
Bitcoin price continues to risk significant downside volatility due to growing macroeconomic uncertainty around global trade tariffs, according to Ryan Lee, chief analyst at Bitget Research.
BTC/USD, 1-year chart. Source: Cointelegraph
The analyst said that closing the week at $81,000 or above will help to prevent further Bitcoin decline.
“The key level to watch for the weekly close is $81,000 range, holding above that would signal resilience, but if we see a drop below $76,000, it could invite more short-term selling pressure.”
These comments were made days before the FOMC’s next meeting, scheduled for March 19, 2019. The CME Group’s FedWatch estimates that markets currently price in a 98% probability of the Fed keeping interest rates the same. tool.
FedWatch by CME Group tool
Lee said that the outcome of this meeting could have a significant impact on Bitcoin investors’ sentiment.
“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets.”
“Even a dovish surprise, like a rate cut, might not be the immediate boost some are hoping for, as investors are still weighing macro uncertainties,” Add the Analyst
Related: US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserve
Analyst: Bitcoin’s close to $85k could reignite optimism among investors for further upside.
Others see the silver lining of Bitcoin’s stagnant prices.
According to Enmanuel Carozo, Brickken’s real-world assets tokenization platform analyst, a weekly close of more than $85,000 could inspire investor confidence, leading to the next breakout.
Cointelegraph spoke to a market analyst who said:
“Traders and investors alike are keeping a close eye on the $80,000 support and the $85,000–$90,000 resistance, with a break above the latter potentially sparking a strong upward movement.”
Analysts believe that, while Bitcoin’s momentum could be restricted by the coming economic reports, Trump’s Bitcoin reserves plan and the regulatory developments surrounding it may bring about a gradual increase in market optimism, and mass adoption.
Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspension
Trump’s Bitcoin reserve took a big step forward on 14 March after US Representative Byron Donalds introduced a bill The aim is to make the Bitcoin Reserve a permanent feature, and prevent any future administration from taking it away through an executive order.
By passing the bill, the Strategic Bitcoin Reserve (SBR) and US Digital Asset Stockpile would be protected from being eliminated by future administrations through executive orders.
A majority of the House and 60 Senate votes are required to pass this bill. The bill will require at least 60 votes in the Senate and a majority of House members to pass. Republicans holding a Senate majority — and amid a generally more crypto-friendly environment — the bill has a chance of passing.
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Source: cointelegraph.com
