Bitcoin price probably ‘chops’ between $100K to $100K range until FOMC meeting
Analysts believe US interest rates will not change, but Bitcoin price could benefit if the Federal Reserve mentions quantitative easing at the next FOMC.
With the dust settling around the “Trump pump” trade, Bitcoin (BTC) price has established a range between $100,000 and $110,000 since the newly elected US president joined office. The crypto asset jumped 3.78% on Jan. 21, but its price action has started to consolidate over the past 24 hours.
With BTC failing to demonstrate a clear directional headwind on the lower time frame (LTF), one analyst believed that the sideways movement might extend until the end of the month.
Krillin, a full-time crypto trader, hinted at the possibility of sideways consolidation between $100,000 and $110,000 until the Federal Open Market Committee (FOMC) meeting takes place on Jan. 28-29. The trader said,
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Author: Biraajmaan Tamuly
