Forex
Bitcoin Trapped Below $80,000 as Fed Signals Remain Key
A new analysis from CoinShares suggests that Bitcoin's near-term price outlook is range-bound, with the digital asset expected to stay capped below $80,000 until the Federal Reserve sends a clearer signal about U.S. monetary policy.
The research firm notes that a decisive breakout above the $80,000 resistance level will likely depend on the Fed confirming it has stepped back from monetary tightening.
According to CoinShares, the recent Bitcoin rally was driven by both macroeconomic factors such as softer U.S. inflation and employment data, as well as crypto-policy developments including regulatory clarity initiatives.
On-chain data shows large holders, or whales, have resumed buying Bitcoin even as the price stalls beneath resistance.