Market Awaits FOMC Meeting as Bitcoin Faces Key Support Levels
#FOMC #InterestRate #CryptoMarket #FED $BTC $ETH
The Federal Reserve's upcoming FOMC meeting on Tuesday and Wednesday will release key inflation data. While interest rates are expected to stay unchanged, market uncertainty is causing Bitcoin to fluctuate.
Confusing Jobs Data Adds to Uncertainty
Recent U.S. jobs data has muddled the economic outlook. The Bureau of Labor Statistics reported 270,000 new jobs in May, while the Household Survey showed a loss of 408,000 jobs. This conflicting data raises suspicions of economic manipulation.
FOMC Meeting: Rates Expected to Hold Steady
The market expects the Fed to keep interest rates unchanged, following rate cuts by Canadian and European central banks. Prolonged high rates could limit liquidity for Bitcoin's next bull run, but a rate cut might be necessary later due to rising debt and potential currency printing.
Bitcoin Faces Rejection: Key Support Levels to Watch
Bitcoin is pulling back from the top of its bull flag, testing support around $67,000. A bounce is possible, but if $67,000 fails, Bitcoin could find support at $63,000 or $64,000. The weekly close will be critical, with the stochastic RSI hinting at a possible bearish crossover.
