Bitcoin touched almost $24,000, can it touch $25k ahead of the FOMC meeting in February?
From the start of the year 2023, Crypto Market is indicating a bullish trend. Bitcoin is now supporting the base resistance level of $23,000. Over last weekend, the bulls were able to push its price around $24,000, It touched $23,920 as per CMC.
The price of Bitcoin has surged over 40% this year. It seems the next major resistance support could be $24,300. The price may even touch $25,000 ahead of the FOMC meeting which is supposed to happen in the first week of February. The expectations are a 25bps or 0.25% rise in interest rates, which could result in an increase from 4.5% to 4.75% in interest rates.
However, it will be interesting to see how it gonna led to a massive bullish rally in the upcoming days. As of now, at the time of writing this article, Bitcoin is trading at $23,100 and has a marketcap of $445 Billion.
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