Analysts believe that on that day, during the key national economic policy upgrading period of the United States, Bitcoin may be "bearish", raising the price by $30,000.
With people making a variety of bets on how the special currency market prices view the Fed's interest rate decisions, $30,000 is urgent-but falling below $20,000 is not impossible.
Traders plan for profit-taking of US $30,000
Bitcoin is several hours away from one of the "highly anticipated" Fed meetings so far, as described by Crypto Tony, a popular trader.
The Federal Open Market Committee (FOMC) will decide on how to adjust the benchmark lending rate on March 22nd, and the current policy has been seriously affected by continuing suspicions about the plight of US commercial banks.
Statistics from the Chicago Mercantile Exchange's FedWatch tool show that the sales market is now working on the probability of suspending the rate hike cycle at the Fed meeting, based on an analysis of ongoing interest rate hikes last month.
It will be a key boon for risky assets, as the Fed meeting will imply by default that it took 18 months to remove liquidity from the economy, but this is not a panacea for recovery.
According to Cointelegraph, liquidity has continued to rise because of the failures of several banks, withdrawing a lot of quantitative tightening (Qt) within a week.
"so FOMC means one thing today, VOLATALITY. There is no doubt that we will maintain the sideways market before this meeting, which means we should proceed with caution.
"my key strategy is, if you come, take a profit at $30,000."
In addition, sales market current affairs commentator Tedtalksmacro lists the probability of each route of the Fed meeting and its possible impact on risky assets.
Priscilla van der Pope, Cointelegraph's soft writer and founder and CEO of online trading platform Eight, added: "gradually looking up at Bitcoin means my eyes are still focused on $28700."
"I expect that we will sweep to the top around the FOMC, and then we will have some sideways finishing. The price ratio on the Chicago Mercantile Exchange is $28700.
Van der Pope style refers to these so-called "gaps" in the CME Group bitcoin futures market, when bitcoin prices were at the beginning of a new week and were at a different position from the previous week. Historically, the rise or fall of spot trading prices has been to "fill" such gaps.
TradingView data confirm that the difference in focus will be created in June 2022.
"do you really want to see more?"
But Justin Bennett, a fashion investment analyst, took a more conservative view, warning that the current trading range of futures prices represented important historical frictional resistance.
He acknowledges that a "squeeze" empty bill may result in $30000, but a sudden collapse may have the opposite effect, and a double bet of at least $20000 will be consistent.
Bennett concluded: "look, maybe we'll see BTC settle empty orders for up to $30000."
"but do you really want to take a fancy to the macroeconomic pressure level? I don't know either. "
The chart shows the level of settlement caused by falling below the $20000 mark.
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