Bitcoin Approaches $100K Amidst Fed Meeting Uncertainty

Bitcoin’s price has remained relatively stable in the past week, hovering between $93,410 and $97,000. However, traders are eagerly awaiting today’s FOMC meeting (scheduled for 2 p.m. ET) to determine Bitcoin’s next move. The market is anticipating a possible breakout above the $100k mark following the announcement. While analysts anticipate the Fed’s decision to remain steady at 4.25%-4.50%, inflation remains sticky, prompting calls for rate cuts. Despite this political pressure, Federal Reserve Chair Jerome Powell is expected to adopt a cautious approach during his speech today.