Bitcoin (BTC) is holding steady near the $120,000 mark as traders brace for potential volatility from upcoming Federal Reserve policy decisions. Will this be the breakout moment for BTC, or are we in for a correction? Here’s what you need to know.
Bitcoin News: Key Resistance and Support Levels
BTC is currently consolidating near $120,000, a critical resistance level. Analysts suggest:
- A breakout above $120,000 could push BTC toward $135,000.
- A drop below $115,000 may trigger a correction to $110,530 or even $100,000.
The Fed’s upcoming policy signals could be the catalyst for the next major move.
Altcoins Show Mixed Signals as ETH Outperforms BTC
Ethereum (ETH) is holding above $3,745, with potential to rally toward $4,868. Meanwhile, ETH’s perpetual futures trading volume has surpassed Bitcoin’s, signaling growing interest in altcoins.
Fed Policy Impact on Crypto Market
The Federal Reserve’s rate decisions and FOMC minutes could drive volatility across the crypto market. Traders are closely watching for hints about future monetary policy.
Key Takeaways for Crypto Traders
- BTC’s $120,000 level is a make-or-break zone.
- ETH and altcoins are gaining speculative interest.
- Fed policy announcements could trigger sharp price movements.
FAQs
What’s driving Bitcoin’s price near $120,000?
Bitcoin is consolidating due to mixed market sentiment and anticipation of Fed policy signals.
How could Fed policy impact BTC?
Hawkish signals may trigger a sell-off, while dovish comments could fuel a rally.
Is Ethereum outperforming Bitcoin?
Yes, ETH’s futures trading volume has surpassed BTC’s, indicating shifting trader interest.
What are the key support levels for BTC?
$115,000 is critical; a break below could lead to a drop toward $100,000.
