💸 “Fed Watching” No More? Bitcoin Price Soars After FOMC – Will it Reach $109K? 🚀

by

Hold onto your hats, crypto fans! 🎩 Bitcoin’s (BTC) price just got a 4.01% boost after the Federal Open Market Committee (FOMC) decided to keep interest rates steady. The price is currently hovering around No data found for bitcoin on 10 minutes ago. This sudden surge has crypto investors buzzing with optimism, leaving them to wonder: Will Bitcoin revisit its $109K all-time high? 📈

🧐 So, Why is Bitcoin Price on a Tear After FOMC?

As expected, the federal funds rate remained at 4.25% to 4.50%. As with every FOMC meeting, Bitcoin price had a rollercoaster reaction. The price dropped to $101,365, but soon recovered, aligning with crypto investors’ post-FOMC expectations. This bullish sentiment is also fueled by Senator Cynthia Lummis’ idea of a Strategic Bitcoin Reserve and Jerome Powell’s “hawkish-turned-dovish” comments. 🦅

🔎 Key BTC Levels to Keep an Eye On

From a technical standpoint, the two crucial levels to watch are $105.4K and $107.2K. If bears fail to take control, BTC could continue its bounce and potentially retest the $109K all-time high. However, if the bullish momentum weakens, the key support levels include $104.4K, $102.2K, and $101.5K. 📉

Some experts, like Adam, are calling for a deeper correction, targeting the 95k-ish area. Meanwhile, traders are watching the four-hour demand zone, extending from $95.3K to $90.9K. 🕵️

🌟 What Does the Future Hold for Bitcoin & Crypto Markets?

As long as Bitcoin remains strong above the $100K psychological level, the crypto market is likely to continue its recovery. So, buckle up and enjoy the ride! 🎢

Oh, and don’t forget to keep an eye on your favorite “smashed alts” with those juicy 90% drawdowns from all-time highs. 🤑

And hey, if you’re into Litecoin or Solana, you’re in luck! 🍀 Litecoin’s price has risen 15%, and Solana’s price has risen nearly 9% in the past 10 hours. 📊

Read More

2025-01-30 10:08