Bitcoin holds near $113,000 ahead of FOMC as traders await Powell’s guidance
Bitcoin stabilized near $113,000 as markets awaited Federal Reserve Chair Powell's guidance following the FOMC meeting.Summary
Bitcoin was trading flat around $113,000, with the broader crypto market also subdued, as global attention focused on Federal Reserve Chair Jerome Powell's policy guidance following the Federal Open Market Committee (FOMC) meeting. Analysts noted that while Bitcoin holds key support near $111,000–$112,000 and ETF inflows remain constructive, institutional appetite lacks the velocity for new highs without a dovish surprise from the Fed. The market anticipates a 25 basis-point rate cut, but volatility hinges on Powell's rhetoric and forward guidance, which is complicated by political factors and ongoing U.S.–China trade talks. Technical analysis suggests heavy resistance near $117,000, and a failure to hold support could lead to a correction, though some analysts suggest BTC may not drop below $100,000 again if the week concludes positively. Furthermore, crypto enthusiasm is muted following a recent flash crash, and thin liquidity could exacerbate volatility if Powell offers a surprise.
(Source：The Block)