Bitcoin Holds Steady Near $113,000 Ahead of FOMC Meeting
- Bitcoin is currently trading around $112,637, showing a slight decline of about 1.2% over the last day.
- Analyst Ali Martinez indicates that Bitcoin needs to surpass $120,000 to potentially reach $143,000.
- Support levels are identified at $112,500 and $111,000, while resistance is noted between $115,600 and $116,200.
- Recent trading activity peaked with over 22,844 BTC exchanged on October 28th.
- Glassnode reports significant buying interest near $111,000 and selling pressure around $117,000.
As traders await the Federal Open Market Committee’s meeting results and Jerome Powell’s press conference today at 2:30 p.m. ET, Bitcoin’s price movement reflects typical market behavior before major announcements. The current price range suggests a tug-of-war between buyers and sellers at critical levels.
With support holding at $112K and resistance near $116K, a breakout above these levels could signal the next direction for Bitcoin prices.(Source)
