Some traders are expecting a Bitcoin surge in price as we approach the FOMC January meeting. Bitcoin is hovering around $96,794 within a tight range. The recent market volatility, along with certain trends in the crypto markets, hint at a possible move. Around half of all traders are keeping vigilance.
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The FOMC meeting and market volatility could influence Bitcoin’s price surge
A Technical Analysis Predicts an Imminent Breakout
Markus Thielen, 10x Research’s head of research, expects a change in direction before the 29th January FOMC meeting. “Bitcoin trades within a narrowing triangle, signaling a breakout is imminent — likely no later than the January 29 FOMC meeting,” Thielen stated on the 14th of January. About half the trends in crypto markets are driven by larger economic shifts.
Federal Reserve Stance and Market Effect
You can also find out more about the following: FOMC plans its first rate Choice of 2025 is soon. The market is volatile, according to some measures. Bitfinex reported on January 13, that this is “one of the most hawkish stances from the Fed in recent months.” Many traders believe that Fed decisions will determine the future price of Bitcoin.
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Pricing and Transition to the President
As Trump’s inauguration approaches, the markets are in turmoil. CME FedWatch’s users predict no rates cuts until June 2025. Lark Davis pointed out, “Bitcoin is repeating similar price action as the last presidential election and inauguration,” Look at older patterns.
Consumer Price Index (CPI) and Market Expectations
The majority of traders closely monitor inflation statistics. Thielen believes that lower inflation may be the catalyst for a Bitcoin surge. “From a trading perspective, the best approach is to follow the breakout, regardless of direction,” He said. He said that several cryptocurrency forecast models predicted sideways trades until March.
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Source: watcher.guru
