Oh the drama! Bitcoin (BTC) jumped almost 4% in just 24 hours. Yeah, you heard that right. Now it’s playing chicken with the $85,000 line. Some pundits are whispering about a sprint to $90,000. Could it? Really?
Bitcoin Does the $85,000 Dance
Wednesday was a wild ride! Bitcoin leaped over the $85,000 hurdle after a 5% bounce from yesterday’s low. But hey, it’s been a struggle keeping above $84,000 for the past 10 days. What a tease!
But wait, there’s more! BTC surged in the last 24 hours, all because of the FOMC meeting. Market gurus say Powell’s words could either be the hero or the villain today. The suspense is killing me!
Analyst CRG chimed in, “The rate stuff? Whatever. It’s the future hints and the Fed’s mood that matter. Keep an eye on the QT/dot plot jazz today.”
The Fed played it safe with the interest rate, sticking to 4.50%. Thanks for the shock, Wu Blockchain, but we saw that coming.
And the plot thickens! The dot plot hints at a rate cut in 2025. Starting April, the Fed’s slowing down the cash burn, cutting the Treasury cap to $5 billion. Agency debt and MBS? Still at $35 billion. Exciting!
Daan Crypto Trades says things could get “quite interesting” with the FOMC shenanigans. We might see Bitcoin retake $85,000 or nosedive. The drama never ends!
The trader’s heatmap showed some big action on both sides of the range. So, $80,000-$81,000 and $85,000-$86,000 are the hot zones now. Buckle up!
BTC’s Make-or-Break Moment
The Fed’s report pushed Bitcoin to a 10-day high of $85,880, up 3.8%. But Daan’s warning: the $84,000-$85,000 zone is a big deal. BTC’s struggling to break the 200MA/EMA barrier. Yikes!
Conquer this zone, and Bitcoin might hit $90,000 again. Fail, and we’re talking $73,500. Ouch!
Rekt Capital noticed sellers backing off, letting buyers jump in. But hey, buyers need to step up their game for this to stick.
And here’s a twist: Bitcoin’s RSI is now a resistance level, trending down since November 2024. A break in this trend could mean big things. Fingers crossed!
As I type, Bitcoin’s at $85,132, up 4.9% in a week. What a rollercoaster!
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2025-03-20 11:48