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Bitcoin trades near $80,000 after Fed holds rates, signals possibility of further tightening — Bizwire | Bizwire
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  3. Bitcoin trades near $80,000 after Fed holds rates, signals possibility of further tightening

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

Bitcoin traded near $80,000 after the US Federal Reserve held interest rates at 3.75%-4%, while the possibility of further tightening weighed on sentiment. Bitcoin and Ethereum fell 1.51% and 1.99% over 24 hours, respectively. Analysts flagged resistance near $81,500-$82,000, citing weak technical indicators and subdued institutional demand.

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

Bitcoin traded near the $80,000 mark on Thursday after the US Federal Reserve held interest rates, signalling the possibility of further tightening. The cryptocurrency was seen trading at $80,139.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.

Crypto TrackerTOP COINS (₹) Tether95 (0.09%)Bitcoin7,623,876 (-1.51%)Ethereum221,155 (-1.66%)XRP123 (-2.58%)BNB70,256 (-2.86%)“Technically, the structure remains weak. Bitcoin is trading below its key 20, 50, 100 and 200-period EMAs on the four-hour chart, with the 80,700–81,700 region now acting as an important resistance cluster.”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 has rebounded above the $81,000 mark after the US Federal Reserve kept interest rates unchanged at 3.75% to 4%, offering some relief to the crypto market following recent selling pressure.He further said that investors should avoid chasing short-term rallies and closely monitor upcoming US economic data, Treasury yields and monetary policy signals before taking fresh positions.Market perspectiveCoinSwitch Markets Desk: BTC climbed above $81K after the US Federal Reserve kept interest rates unchanged at 3.75%–4%, in line with market expectations.

Sustained ETF inflows, alongside positive earnings results, could help BTC maintain its recovery in the coming session75%–4% in a 10–2 vote, with both dissenting members favouring a hike. Bitcoin faces resistance at $81,800, while $78,000 remains key support.Vikram Subburaj, CEO, Giottus: Bitcoin is trading around $81,200 after recovering from recent lows following the US Federal Reserve’s decision to hold rates at 3.75%–4.00%.

Investors should avoid chasing the rebound. Use staggered entries, keep position sizes measured and monitor Bitcoin’s support levels, ETF flows and upcoming US economic data before increasing exposureNischal Shetty, Founder, WazirX: Bitcoin and Ethereum remained above key psychological levels despite tighter global financial conditions. Bitcoin traded near $79,983 after slipping below several short-term averages, while Ethereum held near $2,312 after testing $2,300.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)(You can now subscribe to our ETMarkets WhatsApp channel)

Originally published by:

Economic Times

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