Bitcoin Holds Steady as Fed Meeting Looms: Will Dovish Guidance Boost BTC?
The Bitcoin price has been holding steady above $64,000 as investors await the Federal Reserve's July policy meeting. The Fed is expected to keep interest rates unchanged at 3.50%-3.75%, but traders are closely watching for any changes in the central bank's policy outlook.
Markets currently assign a 68.5% probability of an unchanged rate decision and a 31.5% chance of a 25-basis-point rate hike, according to the CME FedWatch Tool. While an unchanged rate decision is largely priced in, any dovish shift in the Fed's guidance could reignite buying momentum and push BTC above $68,000.
The Relative Strength Index (RSI) remains above the neutral 50 level, reflecting healthy buying momentum rather than exhaustion. However, if the Federal Reserve adopts a more hawkish stance than markets expect, Bitcoin price could revisit the $64,000 support area.