BTC volatility has resurfaced, with BTC/USD dropping nearly $2,000 within just two hourly candles. Traders are now firmly focused on this week’s key macro event — the US Federal Reserve’s interest-rate decision. Markets are largely pricing in a 0.25% rate cut ahead of Wednesday’s FOMC meeting. Historically, Bitcoin tends to face downward pressure heading into FOMC announcements as traders brace for policy signals and shifts in tone from Fed officials. This often triggers sharp intraday swings as the market recalibrates expectations. For now, analysts note that bulls must defend the $86,000 level, which remains a critical support zone to prevent deeper downside momentum.
At the time of writing, BTC was trading at $90,948.
BTC witnessed a sharp fall after making the all-time high of $126,199. The asset started to consolidate between $115,000 to $107,000, forming a ‘Symmetrical Triangle’ pattern. However, it gave a breakout below the channel, and the price further plunged to $80,600. The price fell almost by 36% from the new highs. Post this move, BTC rallied almost by 16% up to $94,150, forming an ‘Ascending Channel’ pattern but with declining volumes. To further rally, the asset needs to break, close, and sustain above the psychological resistance of $100k.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $80,000 | $85,500 | BTC | $100,000 | $107,000 |
Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!
