How will BTC price react as FOMC meets the monthly candle close?
At current prices, Bitcoin remains up a striking 43.1% in January — theBTC/USD monthly returns chart . Source: Coinglass
Among them is Crypto Tony, who notes the proximity of $25,000 to Bitcoin’s 200-week exponential moving average . “If bulls break $24k expecting upside illiquidity to get exploited up to the range of technical resistance ahead of the Feb 1 Fed EoY terminal rate projection. What JPow says will move markets,” part of commentary on bid and ask levels on the Binance order bookMaterial Indicators referenced Powell’s forthcoming words at the FOMC, also noting that bid liquidity had been shifted higher, causing the spot price to edge closer to that key area.
This will be a further reduction compared to other recent moves, and the smallest upward adjustment since March 2022.“Wouldn't be surprised if markets pumped all week ahead of the FOMC announcements,” popular social media commentator Satoshi Flipper“We already know it's 25 BP. So what is there even remaining for J Powell to give guidance about? Another 25 or 50 BP remaining for the year? My point is regarding rates: the worst is now behind us.
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