btc

Bitcoin is trapped in a fluctuation stalemate at $88,000, with short-term rebound momentum continuing to weaken!
Overnight, BTC was dominated by market defensive sentiment ahead of the Federal Reserve's interest rate meeting, fluctuating narrowly between $87,000 and $89,000, failing to achieve an effective breakthrough, with both bulls and bears continuously battling at critical positions.
Even though the current US dollar index is weakening, creating macroeconomic benefits, the crypto market has not been able to leverage this to rise. The core reason is that the net outflow inertia of Bitcoin spot ETFs is still ongoing, and the phased withdrawal of institutional funds has caused the market to lose important support, directly limiting the rebound strength.
Currently, the overall market sentiment is heavily cautious, with funds reluctant to enter as they wait for signals from the Federal Reserve's policy, combined with the emotional transmission of ETF fund outflows, making it difficult for BTC to escape the fluctuation pattern. $89,000 has become a strong short-term resistance, while $87,000 below is a key support for the bulls. Before the interest rate decision is finalized and an inflection point in ETF fund outflows occurs, Bitcoin is likely to maintain this weak fluctuation state, making it difficult to emerge from an independent market trend.
$BTC