Bitcoin price levels to watch as Fed rate cut hopes fade

Bitcoin's price struggles to break the $86,000 resistance, despite recent attempts. The Fed's Chair Powell's comments on interest rates, influenced by Trump's tariffs, dashed hopes for early rate cuts. Market bets suggest a high probability of unchanged interest rates, although this bearish scenario may already be factored into prices. Powell emphasized a cautious approach, citing inflation and growth risks from the tariffs. Trump responded by threatening Powell's termination, highlighting ongoing political tension. Bitcoin price predictions vary; some see a potential rise to $90,000, while others deem higher highs less likely. Bitcoin needs to reclaim the $86,000 level as support and surpass its 200-day moving average to target higher prices. Failure could lead to a drop below $80,000, potentially reaching the $65,000 area, a level aligned with several key cost bases. Analysts highlight this area as crucial for bullish defense; otherwise, further price drops are possible. This information is for educational purposes only and not investment advice.