Bitcoin Holds Its Breath as Fed Looks to Cut Rates

Bitcoin's recent rally stalled just above $116,000, settling under $113,000 as the market focuses on the Federal Open Market Committee (FOMC) rate decision. The Fed is widely expected to implement a 25-basis-point cut, fueled by cooler inflation data and a slowing labor market, which historically boosts risk appetite for assets like Bitcoin. However, the immediate impact might be muted as the cut is largely priced in. Investors are now scrutinizing Fed Chair Jerome Powell's press conference for signals on future policy, particularly whether the Fed will end its Quantitative Tightening program. Despite some labor market weakness and inflation remaining above target, institutional demand remains strong, evidenced by consistent net inflows into BTC ETFs. Technically, Bitcoin is holding a rising trendline, with immediate resistance at $114,500 and support at $112,000.

(Source：Bitcoin Magazine)