Bitcoin heads to FOMC with further downside and BTC price warnings involving a trip below $60,000.
Bitcoin bulls face an uphill struggle to stem selling amid worries that BTC price weakness will end up challenging levels below $60,000., Bitcoin is testing the resilience of levels only recently reclaimed as support. So far, a reliable floor has not been found.
Market observers are thus outlining more fundamental lines in the sand, while also planning for a potential relief bounce. Some argue that the United States Federal Reserve’s interest rates decision, due March 20, will be a decisive event that alleviates pressure on oversold crypto assets. The run-up to previous meetings of the Federal Open Market Committee has often seen risk-asset suppression in the past.repeat of the move“I think we at least get a sweep of last weeks low,” popular trader George summarized on X.
“Looking at the high volume nodes & fib levels, where i think we could see the correction end up. It will also depend on how the FOMC meeting plays out tomorrow,” Cullen wrote in part of the accompanying commentary. On the topic of FOMC, this continues to form the week’s main macro focus — not just for Bitcoin and altcoins, but for the broader risk-asset spectrum.“The lower we go now, the higher we are by the time Jerome stops speaking on Wednesday,” financial commentator Tedtalksmacro, Fed Chair Jerome Powell would aim to strike a hawkish tone, resetting any premature market expectations of a rate cut.This article does not contain investment advice or recommendations.
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