Bitcoin (Bitcoin) remains above $27,000, but an upcoming meeting of US regulators could change the cards on the table.
Experts Predict BTC Volatility Will Increase
The US Federal Open Market Committee (FOMC) will soon announce the latest interest rate changes. But according to CME Group’s FedWatch toolThere seems to be a 99% chance that these rates will not change.
owned by tedtalksmacro commented on X:
“According to the market, the probability that the Fed will not change interest rates is 99%. The data is positive: Core Consumer Price Index (CPI) inflation is at the annual quarterly target level set by the Fed.
“This will probably be the first meeting where the Fed says inflation is progressing as it should.”
Nevertheless, It is thought that the event will cause volatility to increase. Important Indicators drew attentionAfter reviewing the BTC/USD order book on Binance, we found that liquidity around the spot price is quite weak:
“If there’s one thing that stands out in particular, it’s that liquidity is thinly distributed across the range. We may hit some walls higher, but for now the order book looks set to accommodate greater volatility.”
Material Indicators added that Federal Reserve Chairman Jerome Powell’s speech and subsequent press conference could further destabilize BTC.
The attached chart shows some liquidity “parked” at $26,650 on the bid side. But, Major bids are much lower, at $25,000. We see a sell wall at this month’s high of $27,450.
Bitcoin investors are paying attention to these important levels
Investors are expecting an imminent increase in volatility. Daan Crypto Trading Comment: “There is a high probability that some stops will be hit during today’s volatility.“
Also read: Bitcoin Bollinger Bands Reach Key Zone as Price Struggles Against $27,000
Merchant Jelle guess “troubled waters” In the BTC market. My colleague Skew also expects volatility to increase:
“BTC spot on Binance. Evening slot in Asia, morning slot in Europe.
Spot quotes in the key zone between $27,000 and $26,700, a bounce from this level is possible; Ask liquidity is moving up in the order book.
“The FOMC meeting will be fun.”
$BTC Binance Point
Late Asia – Early EU shenanigans
Spot moves up from here, offering key area $27,000 – $26,7,000 to claim liquidity and return
FOMC should be fun pic.twitter.com/2gCQ4ia6dD
— Skew Δ (@52kskew) September 20, 2023
Meanwhile, Crypto trader Tony stated that $26,800 represents an important level for Bitcoin bulls: “This is what I’m looking for to protect my long position. It needs to stay above the $26,800 support zone, otherwise we risk creating a divergence.“