- Bitcoin dropped below $94,000 as investors await the Federal Reserve’s interest rate decision, with market activity driven largely by stablecoins.
- Analysts see a potential bullish Flag and Pole pattern that could push BTC toward $100,000 if confirmed by strong volume.
Bitcoin Slides as Investors Eye Fed Decision
The crypto market saw notable price action today as Bitcoin slipped below the $94,000 level, signaling increased caution among investors ahead of the U.S. Federal Reserve’s highly anticipated interest rate decision. Bitcoin’s market cap declined to $1.879 trillion, while its dominance slightly eased to 63.69%. However, overall daily crypto trading volume surged by 31.6%, reaching $21.52 billion—driven largely by stablecoin activity, which made up more than 91% of total trading.
A Bullish Flag or a False Signal?
Despite the drop, market analysts are spotting a potential bullish formation in the charts. According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, Bitcoin is currently consolidating within a range between $91,500 and $96,000. He highlights the formation of a Flag and Pole pattern—typically a bullish signal—that could propel Bitcoin to the $100,000 mark if confirmed by a breakout supported by strong trading volume.
Macro Jitters and Gold’s Rise
Shivam Thakral, CEO of BuyUcoin, noted that investors are proceeding cautiously, awaiting clarity from the Fed. With the central bank likely to hold interest rates steady amid persistent macroeconomic uncertainty, traders are shifting their strategies. “Gold is gaining traction, but BTC has held firm above the $94,000 mark,” Thakral stated, suggesting resilience in crypto despite increasing interest in traditional safe-haven assets.
What’s Next for Bitcoin?
As the Fed prepares to announce its latest decision, all eyes remain on Bitcoin’s next move. A confirmed breakout above $96,000 could reignite bullish momentum and fuel a run toward six-figure territory. But if the pattern fails to hold and macro factors dominate, a deeper correction could be on the horizon. For now, traders are watching closely, with volatility likely to spike in the coming days.
