💫💫💫This week's FOMC meeting could be a major catalyst for $BTC .


Over the past year, 8 of the last 9 FOMC meetings have been followed by a notable pullback, with Bitcoin dropping around 10% on average over the following week.
We're also trading in a similar price region to last month's meeting, when BTC was around 66K before falling roughly 12% to 58K.
Of course, history doesn't always repeat itself. The May meeting broke the pattern, with Bitcoin rallying instead of selling off.
Still, an 8 out of 9 track record is hard to ignore.
I'll be watching 61K closely. If it holds, BTC could stay within its current range. If it doesn't, another test of the cycle lows becomes much more likely.
The reaction after this FOMC meeting should give us a much clearer picture of what's next.
$BTC ‌#SummerCreationCamp
BTC-2.90%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned