#FED Released Interest Rates

Today, the FED held its meeting and decided to release interest rates. However, the market was expecting the rates to remain unchanged. Following this decision, all eyes are now on FED Chair Jerome Powell’s statements, which will be a key factor in determining the direction of Bitcoin and the overall crypto market.

Bitcoin’s Sideways Movement and Market Dynamics

Bitcoin has been moving sideways around the $100,000 level for nearly two weeks. Despite Coinbase initiating spot sales last week, no significant recovery has been observed in the spot market. On the other hand, whale activity in the futures market remains in positive territory.

Notably, since the $89,000 liquidations were cleared, whales have continued to maintain a positive stance in the futures market. However, the prolonged sideways price action has led to a substantial accumulation of liquidation levels.

Currently:

🔹 Long liquidations are heavily concentrated in the $98,000 - $95,000 range.

🔸 Short liquidations are clustered in the $107,000 - $110,000 range.

Potential Market Reactions to FED Announcements

Following the FED’s decision to release interest rates, market direction will largely depend on Powell’s statements.

• If Powell’s remarks are negative, Bitcoin may experience a pullback toward the long liquidation zones ($98,000 - $95,000).

• If Powell’s comments are positive, Bitcoin is likely to move toward the short liquidation zones ($107,000 - $110,000).

In conclusion, a strong catalyst is needed to break Bitcoin’s recent sideways trend, and Powell’s statements will likely be the decisive factor. It is crucial to closely monitor market reactions today.$BTC