Bitcoin Faces Resistance at $85K, Eyes $88K
The crypto market stays under strain from US President Donald Trump”s tariff rules so traders watch Federal Reserve actions on March 19. Federal Open Market Committee members meeting on March 18-19 will determine Bitcoin market movement for the coming weeks.
Expert economists foresee that Jerome Powell will keep Federal Reserve rates at their present range of 4.25%-4.50%. The crypto market depends mainly on Powell”s future rate cut signals because a positive signal at the $88,000 level could boost the Bitcoin valuation.
According to Obez the market follows Powell”s words closely during his speeches. Bitcoin has a strong potential to exceed $83,000 when Powell speaks positively about future monetary policy.
Bitcoin ETFs Attract $274 Million in Investment Surge
Many cryptocurrency investors are expecting the Fed to minimize its interest rate policy because inflation sits at 2.8% and stays above their 2% benchmark. Strong recent employment gains make it less pressing for the Fed to provide stimulus that might boost Bitcoin beyond its present price range.
At $85,000 Bitcoin needs to pass through an important price barrier to continue rising. The leader cryptocurrency needs to establish $85,000 as price support and outperform its 200-day exponential moving average to pursue new highs. Since August 2024 Bitcoin held its number one position but lost it on March 9 resulting in market volatility.
When Bitcoin takes a negative turn it may fall beneath $78,000 and approach the support ranges at approximately $74,000. Bitcoin will have to reenter the $71,300 to $73,800 zone prior to advancing to its next market stage according to Bitcoin analysts SuperBitcoinBro and Nebraskangooner.
Despite future resistance points Bitcoin fans still hold optimism. The number of investors applying for Bitcoin ETFs has increased significantly during the recent period. Bitcoin ETFs received $274 million in investment funds on March 17 which stood as the biggest inflow since February 4.
The additional investment should give Bitcoin strength to surpass resistance barriers and reach fresh price-highs over succeeding weeks. Crypto investors stay vigilant before the Federal Reserve decision because they want to identify critical information that will steer Bitcoin”s market direction.
On March 19 people will learn whether Powell”s talk opens new cryptocurrency opportunities or brings fresh market instability.