Bitcoin Traders in Wait-and-See Mode Ahead of Fed Rate News
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Predictions Markets
See what traders are focused on
- Bitcoin traders watch out for the Fed’s interest rate decision this week.
- BTC could surge to $126,000 based on historical behavior.
- Dropping to $70,000 will trigger a FUD for Bitcoin.
Most Bitcoin traders are reportedly holding off on their next moves, waiting to see what the US Federal Reserve decides on interest rates this week.
Analysts believe that the Fed Chair’s statement later this week will give Bitcoin traders a clue about where the cryptocurrency might be headed next.
Bitcoin Price Level Traders Should Watch
Data from TradingView showed Bitcoin trading at $83,680. However, analysts see the area between $85,000 and $87,000 as a key liquidity zone. Because of this, how Bitcoin acts around this price could really impact market feelings and decide what many traders and investors do.
Right now, many crypto users think Bitcoin is in a buying opportunity phase, especially those who have held it for three to six months. Looking at how Bitcoin has acted in the past, analysts are predicting that the main cryptocurrency could jump to $126,000 by June.
Related: Bitcoin Price Dip Analysis: 30% Drop But CryptoQuant CEO Says It’s “Common” i…
The post Bitcoin Traders in Wait-and-See Mode Ahead of Fed Rate News appeared first on Coin Edition.
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