- Bitcoin is holding steady near $94,000 as investors await the U.S. Federal Reserve’s policy decision, signaling consolidation after a recent rally.
- While altcoins decline, Bitcoin shows resilience with growing dominance and strong on-chain fundamentals.
Cautious Calm Before the Storm
The crypto market took a breather on Tuesday as traders turned cautious ahead of the U.S. Federal Reserve’s much-anticipated policy decision. While altcoins slipped deeper into the red, Bitcoin held its ground near the $94,000 mark, signaling a consolidation phase following recent gains.
As of 11:17 AM IST, Bitcoin was trading at $94,371, down just 0.2% after reaching an intraday peak of $95,193. Ethereum, on the other hand, slipped 0.3% to $1,802, while the total global crypto market cap dipped 0.38% to $2.93 trillion.
Bitcoin Consolidates: Next Move Looms
“Bitcoin is trading near $94,500, showing signs of consolidation after a steep rally,” said Sathvik Vishwanath, Co-Founder & CEO of Unocoin. He pointed to weakening momentum in technical indicators, especially the RSI, which is cooling near neutral territory. Key support levels are positioned at $90,000 and $88,800, while resistance lies at $95,000 and the psychologically critical $100,000 level.
According to Vishwanath, a breakout above $100K could propel BTC toward $104K and even $109K. On-chain metrics back the bullish case, with rising whale accumulation and increased active addresses. Still, looming macroeconomic headwinds and the Fed’s stance could rattle markets in the short term.
Flight to Safety as Altcoins Retreat
Piyush Walke, Derivatives Research Analyst at Delta Exchange, noted that Bitcoin dominance has climbed to 63.46%, highlighting a shift in investor sentiment. “Implied volatility remains subdued,” Walke said, “suggesting a cautious market tone and a flight to safety during uncertainty.”
While Bitcoin steadies itself near record highs, the rest of the crypto market appears more vulnerable to risk-off sentiment. Investors are clearly positioning for possible rate surprises or hawkish signals from the Fed.
Will Bitcoin Crack $100K, or Stall Again?
All eyes are now on the Federal Reserve, which could act as the catalyst for Bitcoin’s next major move. A dovish tone may pave the way for a push past the $100K barrier, while hawkish signals could drag BTC back toward key support levels. For now, Bitcoin’s resilience amid a market dip hints at strong underlying demand—even if the bulls are temporarily catching their breath.
