Bitcoin needs weekly close above K to avoid downside ahead of FOMC

Bitcoin needs weekly close above $81K to avoid downside ahead of FOMC

Published

4 months ago

March 15, 2025

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Bitcoin needs weekly close above K to avoid downside ahead of FOMC

Bitcoin needs to close above the key $81,000 weekly level to avoid more downside volatility ahead of next week’s Federal Open Market Committee (FOMC) meeting, which will offer investors more cues on the Federal Reserve’s monetary policy for 2025.

Bitcoin (BTC) price fell over 3% during the past week, to trade above $83,748 as of 9:33 a.m. in UTC, Cointelegraph Markets Pro data shows.

Bitcoin price continues to risk significant downside volatility due to growing macroeconomic uncertainty around global trade tariffs, according to Ryan Lee, chief analyst at Bitget Research.

Bitcoin needs weekly close above $81K to avoid downside ahead of FOMC — *BTC/USD, 1-year chart. Source: Cointelegraph*

Closing the week above $81,000 will be key to avoid more Bitcoin downside, the analyst told Cointelegraph, adding:

“The key level to watch for the weekly close is $81,000 range, holding above that would signal resilience, but if we see a drop below $76,000, it could invite more short-term selling pressure.”

The analyst’s comments come days ahead of the next FOMC meeting scheduled for March 19. 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.

The outcome of the meeting may significantly impact Bitcoin investor sentiment, said Lee, adding:

“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,” added the analyst.

Bitcoin close above $85k may reignite investor optimism for more upside: analyst

Other analysts are seeing a silver lining in Bitcoin’s stagnant price action.

A weekly close above $85,000 may inspire more investor confidence and lead to the next breakout, according to Enmanuel Cardozo, market analyst at Brickken real-world asset tokenization platform.

The market analyst told Cointelegraph:

“Traders and investors alike are keeping a close eye on the $80,000 support and the $85,000–$90,000 resistance, with a break above the latter potentially sparking a strong upward movement.”

While Bitcoin’s short-term momentum may be limited by the upcoming economic releases, the regulatory developments around Trump’s Bitcoin reserve plan may gradually bring more market optimism and mass adoption, added the analyst.

Trump’s Bitcoin reserve came one step closer to fruition on March 14, after US Representative Byron Donalds introduced a bill that seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.

If the bill is passed, it would ensure that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration.

The bill will require at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority — and amid a generally more crypto-friendly environment — the bill has a chance of passing.

Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1

Politics

UK restores diplomatic ties with Syria

Published

34 mins ago

July 6, 2025

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The UK has re-established diplomatic ties with Syria, David Lammy has said, as he made the first visit to the country by a British minister for 14 years.

The foreign secretary visited Damascus and met with interim president Ahmed al Sharaa, also the leader of the rebel group Hayat Tahrir al-Sham (HTS), and foreign minister Asaad al Shaibani.

It marks the latest diplomatic move since Bashar al Assad’s regime was toppled by rebel groups led by HTS in December.

In a statement, Mr Lammy said a “stable Syria is in the UK’s interests” and added: “I’ve seen first-hand the remarkable progress Syrians have made in rebuilding their lives and their country.

“After over a decade of conflict, there is renewed hope for the Syrian people.

“The UK is re-establishing diplomatic relations because it is in our interests to support the new government to deliver their commitment to build a stable, more secure and prosperous future for all Syrians.”

The Foreign, Commonwealth and Development Office has also announced a £94.5m support package for urgent humanitarian aid and to support the country’s long-term recovery, after a number of British sanctions against the country were lifted in April.

While HTS is still classified as a proscribed terror group, Sir Keir Starmer said last year that it could be removed from the list.

The Syrian president’s office also said on Saturday that the president and Mr Lammy discussed co-operation, as well as the latest developments in the Middle East.

Since Assad fled Syria in December, a transitional government headed by Mr al Sharaa was announced in March and a number of western countries have restored ties.

In May, US President Donald Trump said the United States would lift long-standing sanctions on Syria and normalise relations during a speech at the US-Saudi investment conference.

He said he wanted to give the country “a chance at peace” and added: “There is a new government that will hopefully succeed.

“I say good luck, Syria. Show us something special.”

Politics

Secret Service seizes $400M in crypto, cold wallet among world’s largest

Published

3 hours ago

July 6, 2025

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Secret Service seizes 0M in crypto, cold wallet among world’s largest

Secret Service quietly amasses one of the world’s largest crypto cold wallets with $400 million seized, exposing scams through blockchain sleuthing and VPN missteps.