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Bitcoin trades near $80,000 after Fed holds rates, signals possibility of further tightening

By · Published by Everything Blog

In short

The Federal Reserve held its benchmark rate steady at 3.75% to 4%, but lingering hawkish sentiment halted Bitcoin's upward momentum below key resistance at $82,000. Total cryptocurrency market capitalization dropped 1.61% to $2.68 trillion, pulling down Ethereum and major altcoins by as much as 3.79%. Although exchange-traded fund flows improved slightly, analysts warn that current institutional interest remains insufficient to break prevailing market resistance.

Key points

  • Institutional inflows into exchange-traded funds remain too weak to counteract technical…: Institutional inflows into exchange-traded funds remain too weak to counteract technical and macroeconomic headwinds.
  • Upward price momentum stalled after encountering heavy selling resistance between the $81…: Upward price momentum stalled after encountering heavy selling resistance between the $81,500 and $82,000 range.
  • Market analysts advise investors to monitor the primary support level at $78,000 alongsid…: Market analysts advise investors to monitor the primary support level at $78,000 alongside upcoming Treasury yields.

Sources checked by our analysis pipeline: 1

Over the past 24 hours, Bitcoin and Ethereum fell 1.51% and 1.99%, respectively. Among major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid and Cardano declined by up to 3.79%.

Riya Sehgal Research Analyst Delta Exchange said Bitcoin’s post-Fed rally quickly faded, with BTC slipping back below the $80,000 mark after facing strong resistance around 81,500 - 82,000.

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ETF flows have improved modestly for Bitcoin, but institutional demand is still not strong enough to offset the current macro and technical pressure, Sehgal further said.

The global crypto market capitalisation fell 1.61% to $2.68 trillion on Thursday, according to CoinMarketCap data. Bears capped Bitcoin’s rally at the key resistance level of $81,500, dragging its price below $80,000, said the CoinDCX Research Team.

Over the past week, Bitcoin and Ethereum declined 2.35% and 3.76%, respectively. Among major altcoins, XRP, Solana, Dogecoin and Cardano fell by up to 7.79%, while BNB, Tron and Hyperliquid gained up to 1.69%.

Avinash Shekhar, Co-founder and CEO, Pi42 said Bitcoin…

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