Bitcoin Price Retests Key Support as FOMC Decision Looms – Will Bulls Take Control?

Explore the newest tendencies within the Crypto area. This article dives into: “Bitcoin Price Retests Key Support as FOMC Decision Looms – Will Bulls Take Control?”.

Bitcoin (BTC) value has skilled heightened volatility as the Middle East disaster indicators additional escalation. The flagship coin dropped as a lot as $103,396 on Tuesday, which resulted in an analogous transfer for the broader altcoin market.

As a results of the heightened volatility, greater than $513 million was liquidated from the crypto-leveraged market, with the lengthy merchants accounting for $421 million. Nevertheless, crypto merchants stay optimistic for a bullish rally quickly as proven by the BTC concern and greed index, which hovered round 68 p.c.

Bitcoin Demand Remains Strong

As Coinpedia has identified severally within the current previous, the general demand for Bitcoin by institutional buyers stays extremely elevated. Amid the continuing short-term bearish outlook, the Bitcoin stability on centralized exchanges continued to drop to about 2.08 million on the time of this writing from 2.26 million on April 24, 2025.

The U.S. spot Bitcoin ETFs and institutional buyers, led by Strategy and Metaplanet, stay a significant contributor to the declining provide of BTC on centralized exchanges (CEXs). Over the previous 5 days, U.S. spot BTC ETFs have recorded a internet money influx of roughly $1.46 billion, led by BlackRock’s IBIT.

What Next for BTC Price?

BTC value has been forming a bullish continuation sample regardless of the seemingly uneven market. Following a 5 p.c drop prior to now 24 hours to retest a vital assist degree round $103k, BTC value has rebounded over 1 p.c to commerce round $105k on Tuesday, through the mid-North American buying and selling session.

In the two-hour timeframe, BTC value retested a bullish breakout from a falling logarithmic trendline. Within the 2-hour timeframe, BTC’s Relative Strength Index (RSI) hovered round oversold ranges, suggesting a rebound within the close to future.

However, a constant shut under the assist vary between $103k and $101k will set off additional bearish sentiment within the subsequent weeks.

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