Will the FOMC Decision Push Bitcoin (BTC) Price to Break $100,000?

Jakarta, Pintu News – Bitcoin’s (BTC) price recovery appears to have stalled as market attention turns to the upcoming interest rate decision from the Federal Open Market Committee (FOMC). At last check on Sunday, Bitcoin (BTC) was trading between $95,000 and $96,000.

This represents an increase of about 30% from its lowest level in April this year. This dynamic coincides with President Donald Trump’s claims that trade talks between the US and other countries, including China, are underway.

Check out the full analysis here!

The Effect of FOMC Decision on Bitcoin (BTC) Price

The FOMC’s upcoming decision on interest rates will be the next important catalyst for Bitcoin (BTC) price. This decision will determine the direction of the market for the second half of the year. Economists expect that the US Federal Reserve will keep interest rates at 4.5%.

Officials will also maintain a cautious tone given that inflation is still high. On the other hand, there are concerns that the economy may be heading into recession. Data released last week showed that the economy contracted by 0.3% in the first quarter, the worst performance since 2022.

Therefore, officials may still propose a 0.25% rate cut at the June meeting, as expected by traders at Polymarket. This move is likely to trigger the next Bitcoin (BTC) price rally.

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Technical Analysis of Bitcoin (BTC) Price

The daily chart shows that the price of Bitcoin (BTC) has been rising in recent weeks, from a low of $74,330 to $97,927. The price has broken the important resistance level at $88,655, which is the neckline of the double-bottom pattern at $76,665.

Bitcoin (BTC) has formed a mini golden cross pattern as the 50-day and 100-day moving averages cross each other. Leading indicators such as the Relative Strength Index and MACD are also showing an uptrend.

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Impact of Tariffs and Trade Talks

A statement from China’s Ministry of Commerce indicated an openness to dialog with the Trump administration, but tariffs were an obstacle. According to the Wall Street Journal, China also plans to make “potential fentanyl offers” as Trump often uses the drug trade as an excuse to impose tariffs.

This adds complexity to the global market dynamics that also affect crypto markets like Bitcoin (BTC).

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Will the FOMC Decision Push Bitcoin Price Beyond $100k? Accessed on May 5, 2025
• Featured Image: Generated by Ai