Peak 'FUD' hints at $70K floor — 5 Things to know in Bitcoin this week
Bitcoin (BTC) heads into FOMC week in a cautious mood, with multimonth lows still uncomfortably close.BTC price action preserves $80,000 support as upside liquidity looks ripe for the taking.The Fed is the center of attention with a decision due on interest rates and traders eagerly scanning Chair Jerome Powell for dovish signals.A return to accumulation among Bitcoin top buyers forms grounds for confidence over market stability going forward.Historical BTC price cycle analysis delivers an impressive $126,000 target for the start of June.Those looking to “be greedy when others are fearful” should concentrate on $69,000, research concludes. Bitcoin trader sees $87,000 liquidity grabA comparatively quiet weekend saw BTC/USD avoid a lasting sell-off into the weekly close, instead only dipping to $82,000 before rebounding. Data from Cointelegraph Markets Pro and TradingView shows a broad reclaim of the $80,000 mark cementing itself in recent days.BTC/USD 1-hour chart. Source: Cointelegraph/TradingView“Not a bad Sunday for Bitcoin,” crypto trader, analyst and entrepreneur Michaël van de Poppe summarized in part of his latest market analysis on X. “We still have Monday to go, but this looks like we're making a new higher low on Bitcoin before attacking the highs again.”BTC/USDT 4-hour chart. Source: Michaël van de Poppe/XOther market participants echoed the sentiment, including those seeing another retest of multimonth lows to take liquidity and “trap” late shorts.“I think Bitcoin will hit 78k first to grab liquidity before an Upside Breakout,” popular trader Captain Faibik argued in part of his own X content. “Once the breakout occurs, Bitcoin is likely to reach 109k in the coming weeks (Possibly by mid-April).”BTC/USDT 1-day chart. Source: Captain Faibik/XFellow trader CrypNuevo meanwhile noted that liquidity was skewed mostly to the upside, resulting in key targets for bulls to take.“The area between $85.4k & $87.1k is the main liquidity zone,” an X thread explained. “A move up targeting this area in the upcoming week seems more than likely.”Bitcoin exchange order book liquidity data. Source: CrypNuevo/XFed’s Powell in the spotlight as FOMC week arrivesBitcoin and risk-asset traders have one macroeconomic event only on their minds this week: the US Federal Reserve’s interest rate decision.Coming at what commentary calls a “pivotal point in time,” the move by the Federal Open Market Committee (FOMC) will have wide-ranging implications for market sentiment.On the surface, it appears that few surprises will likely come as a result of the second meeting of 2025 — inflation may be cooling, but Fed officials, including Chair Jerome Powell, maintain a hawkish stance on the economy and financial policy.Powell has repeatedly stated that he is in no rush to cut rates, leading to almost unanimous market bets that current levels will remain unchanged after FOMC.
Bitcoin (BTC) heads into FOMC week in a cautious mood, with multimonth lows still uncomfortably close.
BTC price action preserves $80,000 support as upside liquidity looks ripe for the taking.
The Fed is the center of attention with a decision due on interest rates and traders eagerly scanning Chair Jerome Powell for dovish signals.
A return to accumulation among Bitcoin top buyers forms grounds for confidence over market stability going forward.
Historical BTC price cycle analysis delivers an impressive $126,000 target for the start of June.
Those looking to “be greedy when others are fearful” should concentrate on $69,000, research concludes.
Bitcoin trader sees $87,000 liquidity grab
A comparatively quiet weekend saw BTC/USD avoid a lasting sell-off into the weekly close, instead only dipping to $82,000 before rebounding.
Data from Cointelegraph Markets Pro and TradingView shows a broad reclaim of the $80,000 mark cementing itself in recent days. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
“Not a bad Sunday for Bitcoin,” crypto trader, analyst and entrepreneur Michaël van de Poppe summarized in part of his latest market analysis on X.
“We still have Monday to go, but this looks like we're making a new higher low on Bitcoin before attacking the highs again.”
BTC/USDT 4-hour chart. Source: Michaël van de Poppe/X
Other market participants echoed the sentiment, including those seeing another retest of multimonth lows to take liquidity and “trap” late shorts.
“I think Bitcoin will hit 78k first to grab liquidity before an Upside Breakout,” popular trader Captain Faibik argued in part of his own X content.
“Once the breakout occurs, Bitcoin is likely to reach 109k in the coming weeks (Possibly by mid-April).”
BTC/USDT 1-day chart. Source: Captain Faibik/X
Fellow trader CrypNuevo meanwhile noted that liquidity was skewed mostly to the upside, resulting in key targets for bulls to take.
“The area between $85.4k & $87.1k is the main liquidity zone,” an X thread explained.
“A move up targeting this area in the upcoming week seems more than likely.”
Bitcoin exchange order book liquidity data. Source: CrypNuevo/X
Fed’s Powell in the spotlight as FOMC week arrives
Bitcoin and risk-asset traders have one macroeconomic event only on their minds this week: the US Federal Reserve’s interest rate decision.
Coming at what commentary calls a “pivotal point in time,” the move by the Federal Open Market Committee (FOMC) will have wide-ranging implications for market sentiment.
On the surface, it appears that few surprises will likely come as a result of the second meeting of 2025 — inflation may be cooling, but Fed officials, including Chair Jerome Powell, maintain a hawkish stance on the economy and financial policy.
Powell has repeatedly stated that he is in no rush to cut rates, leading to almost unanimous market bets that current levels will remain unchanged after FOMC.
