Bitcoin and Altcoins Await Fed’s FOMC Meeting Decision
Bitcoin and altcoins are gaining momentum ahead of the Federal Open Market Committee (FOMC) meeting on March 19, with investors focused on potential interest rate decisions from Fed Chair Jerome Powell.
Bitcoin Price Resistance at $84,000
- Bitcoin is facing resistance at the 200-day simple moving average of $84,000.
- A break past this level could lead BTC to target $90,000, aligned with its 50-day SMA.
- Analyst Ali Martinez noted a MACD crossover on the 2-week chart which indicates a possible macro trend reversal.
- Matt Hougan from Bitwise Asset Management outlined two scenarios:
- If the Fed adopts an accommodative stance, Bitcoin could reach $200,000 by year-end.
- If the Fed enforces stricter policies, BTC may drop to $72,000.
- The FOMC is expected to maintain interest rates between 4.25% and 4.5%, with caution regarding any immediate cuts.
Outlook for Altcoins
- Altcoins such as Ethereum and Solana have seen corrections of 35-40% in 2025 amid selling pressure.
- Analyst Crypto Patel suggested that a potential decline in Bitcoin dominance may shift liquidity towards altcoins.
- A breakdown in BTC dominance could trigger a significant altcoin rally, with some tokens projected to rise by 10x to 20x.
- Market watchers are monitoring this metric closely as it may mark the beginning of an altseason.