February 21, 2024

Could the price of bitcoin rise to $25,000 after the Fed meeting?

After the Bitcoin price rose to the $20,000 range, the main cryptocurrency froze in indecision, or rather,market participants took a break until the next meeting of the Fed.

Experts are considering three possible options that the Fed will take on the interest rate today.

  • The general consensus is a low profile with interest rate hikes of less than 75 basis points. This decision will be optimistic for the market and will likely push BTC higher.
  • If the Fed agrees to 75 basis points, it could cause short-term volatility but continue sideways.
  • A bet over 75 basis points will supporta bearish outlook and underscore the Fed's tough focus on curbing inflation. This scenario could force BTC to retest current support levels.
  • Could the price of bitcoin rise to $25,000 after the Fed meeting?

    Probability of an interest rate hike

    Regardless of the Fed's decision, traders should beready for a surge in volatility and keep a close eye on certain bitcoin price levels. In addition, the relative strength index (RSI) indicates a slowdown, which often leads to a price reversal.

    Traders should pay close attention to the $19,700 support level and the area below it extending to $19,315. Investors looking to buy BTC can do so at the indicated levels.

    If the Fed changes its stance to a softer one,there is a high chance that overshadowed buyers will intervene, triggering a move higher. In this case, we can expect BTC to rise to $22,106, and the increased hype will push the price to a psychologically important level of $25,000.

    Could the price of bitcoin rise to $25,000 after the Fed meeting?

    BTC/USDT Daily Chart

    If there is a jump of more than 75 basispips, investors should brace themselves for the move to plunge BTC to $19,315 and possibly the June 18 swing lows of $17,593.

     
    News and notes about cryptocurrency and traditional financial markets, politics and technologies in Telegram.