To prevent further downward fluctuations, Bitcoin needs to close its weekly candle above the key level of $81,000. The upcoming Federal Open Market Committee (FOMC) meeting on March 19 could provide more clues on the Federal Reserve’s monetary policies for 2025. According to Cointelegraph Markets Pro data, Bitcoin’s price has dropped over 3% in the past week, currently trading above $83,748. Analysts suggest that closing the weekly price below $81,000 could lead to a deeper correction to the $76,000 level. Bitcoin’s fate is also tied to the Federal Reserve decisions. Markets are 98% certain that interest rates will remain unchanged, but any unexpected signals could have a negative impact on Bitcoin and other high-risk assets. However, some analysts believe that closing the weekly price above $85,000 could trigger a new wave of market optimism.
