#FedRateCutPrediction

The price of the leading cryptocurrency is holding a key technical threshold, a breakdown of which threatens a significant drop in quotes. This was pointed out by the analyst known as Daan Crypto Trades.
The level in question is the 0.382 Fibonacci retracement, located just above $84 000. According to the expert, this mark has historically served as an important support and resistance zone in market cycles.
In his opinion, a failure of this level could lead to a drop in quotes to $76 000.
On December 7, the market experienced another "leverage flush," which triggered liquidations of bitcoin positions in both directions. The asset's price briefly dropped below $88 000, but quickly recovered above $91 500.
On December 9-10, the (FOMC) Open Market Committee will hold a meeting, at the end of which the regulator will announce its decision on the Fed's key rate. Many market participants expect a 0.25% reduction.
The crypto market lost momentum after the monetary policy easing in October. As Markus Thielen, head of 10x Research, told Cointelegraph, the head of the regulator, Jerome Powell, outlined a "nonlinear, data-dependent path of policy easing, rather than a clear rate-cutting cycle."
According to the researcher, after the upcoming meeting, the rhetoric will turn more restrained. This will resemble the "hawkish" maneuver of mid-autumn and will maintain moderate pressure until the end of the year.
$BTC