Bitcoin continues to hold near $118,000 as traders brace for a pivotal Federal Reserve decision while watching for signs of summer seasonality. Will BTC break through $120K resistance, or will historical August weakness prevail? Let’s analyze the key factors shaping crypto markets today.
Bitcoin Price Holds Steady Ahead of Fed Decision
BTC currently trades between $115,000-$120,000, with technical indicators suggesting:
- 20-day SMA at $118,313 provides support
- RSI remains in positive territory
- Break above $120K could target new ATH at $123,218
- Institutional buyers added 21,021 BTC at $117,256 average
Altcoins Show Strength as ETH Volume Surpasses Bitcoin
While Bitcoin consolidates, altcoins demonstrate relative strength:
| Coin | Key Level | Upside Target | Support |
|---|---|---|---|
| Ethereum (ETH) | $3,745 | $4,868 | $3,516 |
| BNB | $794 | $900 | $750 |
| Solana (SOL) | $178 | $240 | $160 |
Historical Trends Suggest Caution for Crypto Market
13-year data shows August averages just 2.56% BTC returns. Key considerations:
- Fed interest rate decision impact on risk assets
- Summer liquidity typically lower
- Institutional activity may offset seasonality
- Altcoin rotation opportunities
FAQs: Bitcoin Market Outlook
Q: When is the next Fed meeting?
A: The FOMC meets this week, with decision expected Wednesday afternoon.
Q: What’s the key Bitcoin price level to watch?
A: $120,000 resistance; break above could signal rally to $135,000.
Q: Are altcoins a better play than Bitcoin now?
A: ETH futures volume surpassing BTC suggests growing altcoin interest.
Q: How reliable are seasonal patterns in crypto?
A: Historical but not guaranteed – institutional flows may change dynamics.
