Key BTC Levels to Watch Ahead of Fed Chair Powell’s Speech.
The post Key BTC Levels to Watch Ahead of Fed Chair Powell’s Speech. appeared on BitcoinEthereumNews.com.
Key takeaways: Fed interest-rate cut odds this week are now less than 3%, according to Polymarket. BTC price may drop as low as $112,000 if key support levels are broken. Bitcoin (BTC) price remained flat on Wednesday at $118,200, as traders adopted a wait-and-see approach amid growing macro uncertainty. BTC/USD four-hour chart. Source: Cointelegraph/TradingView 97% chance interest rates unchanged The US Federal Open Market Committee (FOMC) two-day meeting started on Tuesday with the policy decision on the interest rate expected on Wednesday at 2:00 pm ET. Market participants expect the Federal Reserve to leave rates unchanged, despite pressure from President Donald Trump to lower rates. Related: Bitcoin momentum loss is pre-FOMC derisking, not a trend change Polymarket sees a 97.5% chance that the current interest rates will remain between 4.25% and 4.50%, and just a 2.3% probability of a 0.25% rate cut. Interest rate expectations. Source: Polymarket A common market belief is that any bearish price action from unchanged interest rates is already priced in. Traders appeared to “panic sell” on Tuesday as uncertainty grew around Fed Chair Jerome Powell’s speech after the meeting, said crypto investor TedPillows. “People likely dumped their bags in fear. But they’ll probably end up FOMO buying back in at higher prices after the Fed speaks,” the analyst added, explaining that it is a familiar pattern that has historically preceded strong moves in August. “Then August hits, everything goes parabolic. And the sidelined traders? They end up chasing, again.” Therefore, the market will keenly watch Powell’s language at the FOMC news conference to see if there is any shift in tone. “Investors will be listening very carefully to the Fed chair, and a dovish posture can influence the market,” said markets commentator James DePorre in an X post on Wednesday. “The cut matters, but Powell’s…
