Bitcoin's Range-Bound Price Ahead of Fed Decision Raises Stakes

Bitcoin's price has remained relatively stable in recent days, hovering around $78,362. Despite this calm surface, experts warn that the Federal Reserve's upcoming decision could have a significant impact on the cryptocurrency's future.

The current range of $78,000 to $82,000 has been holding steady for days, with many analysts expecting further compression. According to Jeff Ko, CoinEx's chief analyst, 'I expect compression into a tight range, capped around $82,000 with support at $78,000-$79,000, and a directional resolution once the Fed is out of the way.'

For now, the key level to watch remains at $80,500. A clean break above this price could open the path to the $82,000 supply zone, while a slip below $78,000 brings the $77,200 level into play.