In the grand theater of financial markets, Bitcoin (BTC) finds itself in a precarious position, akin to a nobleman caught between the whims of a capricious tsar and the murmurs of an uncertain populace. To avoid the specter of downside volatility, Bitcoin must close the week above the key $81,000 level, a task that looms as daunting as the challenge of a young Tolstoyan hero. The Federal Open Market Committee (FOMC) meeting, scheduled for next week, will offer investors crucial insights into the Federal Reserve’s monetary policy for 2025, a policy that could either be the savior or the nemesis of this digital currency.
Over the past week, Bitcoin’s price has fallen by more than 3%, trading above $83,748 as of 9:33 a.m. UTC, according to CryptoMoon Markets Pro data. Yet, the road ahead is fraught with peril, as Ryan Lee, chief analyst at Bitget Research, warns of significant downside volatility due to the growing macroeconomic uncertainty surrounding global trade tariffs. 🌍💰
A weekly close above $81,000 is crucial to avoid further Bitcoin downside, Lee explains:
“The key level to watch for the weekly close is the $81,000 range. Holding above that would signal resilience, but a drop below $76,000 could invite more short-term selling pressure. The market is a fickle mistress, and Bitcoin is but a leaf in her tempestuous wind.”
The next FOMC meeting, scheduled for March 19, is just days away. Markets are currently pricing in a 98% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool. Lee adds:
“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets. Even a dovish surprise, like a rate cut, might not be the immediate boost some are hoping for, as investors are still weighing macro uncertainties.”
Other analysts, however, see a silver lining in Bitcoin’s current stagnation. Enmanuel Cardozo, market analyst at Brickken real-world asset tokenization platform, believes that a weekly close above $85,000 could reignite investor optimism and lead to a new breakout:
“Traders and investors alike are keeping a close eye on the $80,000 support and the $85,000–$90,000 resistance. A break above the latter could spark a strong upward movement, much like a hero finally overcoming the final obstacle in a grand epic.”
While short-term momentum may be limited by upcoming economic releases, the regulatory developments surrounding Trump’s Bitcoin reserve plan could gradually bring more market optimism and mass adoption. On March 14, US Representative Byron Donalds introduced a bill to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.
If the bill passes, it would guarantee that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration. The bill requires at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority and a generally more crypto-friendly environment, the bill stands a chance of becoming law, much like a Tolstoyan hero finally achieving his noblest aspirations.
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2025-03-15 13:14