How High Can Bitcoin Price Go After FOMC Meeting Today?

Bitcoin traders are closely monitoring today’s Federal Reserve announcement. The FOMC is expected to cut interest rates by 0.25%, which could impact risk assets like Bitcoin. However, the market tends to experience sharp swings on FOMC days.

Volatility Expected Around the Announcement

This week leading up to the FOMC announcement is typically volatile. Traders caution that pre-FOMC rallies may be deceptive, with rapid price movements and reversals common during and after the Fed’s guidance.

Bitcoin Rebounds From Extreme Fear

Recently, the crypto fear index hit 10, indicating extreme fear in the market. Bitcoin saw a bounce from $86,700 to $92,300 and is now establishing a stronger support level, providing a positive outlook ahead of the announcement.

Analysts See Break Toward $103,000 If Resistance Breaks

One analyst predicts Bitcoin’s move towards a key resistance at $94,200, anticipating a breakout and subsequent climb to $103,000 after retesting support.

Strong Divergence May Push Bitcoin Toward $100K

Analyst Michaël van de Poppe suggests that Bitcoin’s lag behind the Nasdaq could lead to a price increase, as the recent drop from $115,000 to $80,000 created a mispricing that might drive Bitcoin higher.

Van de Poppe also highlights the recovering risk appetite in the market, hinting at a potential upward trend for Bitcoin. He suggests that Bitcoin could reach $100,000 in the short term and climb to $110,000–$115,000 in the medium term to negate recent corrections.

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