Bitcoin Price Stalls at $84K Amid Analyst Caution and FOMC Meeting Concerns
Bitcoin’s current trading value is approximately $84,000, with a potential decrease predicted by analysts if U.S. equities continue to correct. The Federal Open Market Committee meeting is anticipated to affect market stability as investors observe possible changes in the Federal Reserve’s balance sheet strategy.
Bitcoin (BTC) has experienced a modest increase, currently trading at around $84,000. This uptick occurs alongside a positive trend in U.S. equities, with the broader CoinDesk 20 index showing a 2.4% rise in the past 24 hours. However, analysts such as Joel Kruger from LMAX caution that a prolonged correction in U.S. equity markets could bring the value of Bitcoin down to a range of $73,000 to $74,000 by March 2024.
In summary, while Bitcoin has shown a temporary rise to $84,000 amidst favorable equity market conditions, analysts indicate potential risks of a market correction that may affect Bitcoin’s trajectory. The upcoming FOMC meeting will be pivotal in determining interest rate policies, which could further influence crypto markets.
Original Source: www.coindesk.com
Post Comment