$BTC 📉 Pre-Fed Tension and Volatility in BTC
The crypto market is operating cautiously this morning as everyone awaits the crucial decision from the Federal Reserve (Fed) that will be announced today.
🟠 Bitcoin (BTC): A Tense Range
- Recent Movement: BTC briefly rose above $94,000 before retracing to around $92,500 during Asian morning hours.
- Consolidation Zone: Bitcoin is consolidating in the range of $86,000 to $94,000, without sufficient anchors for a decisive move.
- Some analysts suggest that the recent spike in volatility, where realized volatility surpassed implied volatility, could be a market bottom signal and the start of a recovery, something that has coincided with the bottom in six out of eight historical cases.
🚀 Altcoins Challenging the Trend
Altcoins showed strength, although they have begun to slightly retrace in Asia to take profits:
- Ethereum (ETH): Rose 7% in the last 24 hours, trading around $3,320.
- Cardano (ADA): Outperformed all with an 8.5% jump on the day.
- Solana (SOL) and Dogecoin (DOGE): Both advanced more than 5%.
🌐 The Macroeconomic Factor: The Fed in Focus
The direction of the market will largely depend on the Fed's decision today.
- Expectations: Investors and analysts expect the Fed to cut interest rates, possibly by 25 basis points, although the tone of Chairman Jerome Powell will be key.
- Risk: If BTC fails to reclaim the $94,000–$96,000 band after Powell's remarks, macroeconomic caution could send it back to the $80,000 zone.
- We are at a moment of maximum uncertainty. Volatility in BTC suggests a potential bottom, but today's Fed decision will be the catalyst that defines the next major trend.
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