Bitcoin Drops Below $95,000 as Traders Monitor Federal Reserve Meeting
Bitcoin (BTC) dropped below $95,000, with potential targets of $90,000 or lower due to macro uncertainty and anticipation of the Federal Reserve meeting.
- BTC briefly rose above $98,000 during a recent rally, attracting retail and institutional interest.
- Analysts identify technical and macro risks that may pressure prices further.
- Key resistance levels are noted around $90,000, with downside targets at $92,500 and $89,000.
- The Federal Reserve is expected to maintain current rates but will be closely watched for future economic projections.
- Ongoing U.S.-China tariff discussions could impact BTC prices significantly.
- Spot bitcoin ETFs recorded net inflows of $1.81 billion last week.
- On-chain indicators suggest caution as long-term holders' unrealized gains approach 350%, often preceding profit-taking periods.
- Meme coin activity has surged, indicating a shift towards higher-risk investments, but this has not led to consistent gains across the market.