Bitcoin Price Fights for $88,000 as Fed Looms and Bearish Technical Pressure Builds

The bitcoin price steadied around $87,850 after dipping to $86,000 over the weekend, as market participants cautiously monitor several factors. Key among these is the upcoming Federal Reserve policy decision, which is scrutinized amid political tensions involving President Trump and Fed Chair Jerome Powell regarding the Fed's independence. Market pressure continues from significant outflows in U.S. spot bitcoin ETFs, totaling $1.33 billion last week. Although corporate accumulation persisted, with Strategy purchasing nearly $264.1 million in BTC, it failed to stabilize sentiment. Technically, Bitcoin failed to hold the $87,000 support level, shifting control to sellers. Analysts identify $84,000 as a critical support; a close below it could lead to a drop toward $72,000–$68,000. Bulls must reclaim $88,000 to stabilize the price. Current technical indicators, including the MACD and RSI, reinforce the bearish outlook, and the Fear and Greed Index signals extreme fear at 20.

(Source：Bitcoin Magazine)