Bitcoin Price today is trading above $91,000, showing a recovery with higher highs and higher lows. The upcoming Federal Open Market Committee (FOMC) meeting, just 3 days away, could heavily influence crypto markets.
According to prediction markets, there is an 86% probability of a 25-basis-point interest rate cut, while a 14% chance exists for rates to remain unchanged. This comes as US layoffs approach Great Recession levels, creating pressure for the Fed to provide additional monetary support.
The end of quantitative tightening and the potential return of liquidity injections could have a significant impact on Bitcoin and broader financial markets. If the Fed implements the anticipated cut, it could provide a bullish catalyst for cryptocurrencies, as lower borrowing costs generally increase capital flow into markets.
Bitcoin Price Prediction For This Week Ahead Of FOMC Meeting
Bitcoin (BTC) Price is trading above $91,000, showing short-term recovery with higher lows. BTC is facing resistance in the $92,000–$94,000 zone, with liquidity building above current levels, signaling potential upward pressure. Short-term charts indicate underlying strength despite temporary selling pressure.
A retest of $81,000 is possible before further upward movement, while a breakout above $94,000 could target $99,000–$100,000. Immediate support is at $85,000.
Altcoins in Focus: ETH, SOL, XRP, LINK
Ethereum (ETH) price is retesting a crucial support zone between $3,000–$3,100. Daily candle closes below $3,000 could signal further downside toward $2,800, with additional support near $2,600. Resistance remains at $3,250–$3,300, and higher targets lie between $3,600–$3,700.
Solana (SOL) Price continues to trade sideways between $124–$128 support and $143–$147 resistance. The market is still within a broader bearish trend, but short-term movements are expected to remain range-bound over the next couple of days.
XRP Price is testing key support near $2.00, with additional levels at $1.9495 and $1.82. A short-term bullish divergence remains active, suggesting potential sideways consolidation or slight relief in the coming days.
Chainlink (LINK) recently hit its $15 target from the W-pattern and is now retesting previous Fibonacci resistance, now acting as support near $13.4–$13.5. The active bullish divergence indicates possible sideways consolidation or minor short-term gains. Resistance is expected near $15 and $15.20–$15.70.
Crypto markets are in a “calm before the storm” phase ahead of the Fed meeting. While the weekend may see low trading activity and sideways price action, increased volatility could follow early next week, providing potential trading opportunities across major cryptocurrencies.
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