FOMC Reactions: What's Next for Crypto?

So, on Twitter everyone is buzzing about what FOMC will bring today. If it favors crypto, could Bitcoin hit a new ATH? I'm thinking to long Bitcoin if it goes well. I'm also eyeing IKA, might take a small risk if Jerome Powell's announcement is good for us. What's your take on today?

Honestly, I doubt any announcement will push Bitcoin to an ATH right now. It's stuck below a strong resistance level. Needs to hold above $120k for a bit to really confirm that support. I’m not really concerned about FOMC; the news is just noise.

Bitcoin's looking bullish on that hourly chart! Do you think we can break through resistance, or is this just wishful thinking? Also, what's the deal with IKA and altcoins?

I see resistance around $118k and it doesn't look like we’ll break it anytime soon.

Let’s see how this plays out then. You looking at any altcoins?

Yeah, it was pretty 50/50 yesterday. Market reactions are always unpredictable. FOMC news can be really tricky, especially after speeches... Like Trump's influence adds a layer of complexity. They held the rate at 4.50% yesterday, probably standing up to Trump there. Honestly, they should have cut the rate given the inflation trends.

Nothing surprising from this FOMC, honestly. Bitcoin's correction was overdue after the last rally. No rate cut just makes it a bit worse. But I’m eyeing $110k for a possible futures long; just a hunch though, could end up being wrong.

Jerome Powell doesn’t have all the power with interest rates. It takes votes from the committee. News shows a majority wanted to keep rates unchanged only 2 were for a cut. Honestly, keeping rates stable makes sense with potential trade wars looming.

Today’s price movement feels neutral, not leaning bullish or bearish. It’s kinda stable right now. Maybe things will pick up soon? Looking at the chart, nothing major seems to be happening just yet. But I think it’ll climb above 120k eventually.

This post is from July 30. At that time, there definitely was some influence. If you follow forex events like FOMC or CPI, they can slightly impact BTC prices. After the last meeting, it was a bit bearish but not enough to shake things up since BTC’s in consolidation. Just waiting for a trend break.

If it were that straightforward, Trump wouldn't challenge the FED chair. Decisions are about votes but Powell has influence. Maybe he’s holding rates just to irritate Trump more?

FOMC has 12 members: 7 governors and 4 bank presidents. Powell's just one vote among them. Sure, he can sway opinions, but if the others disagree, he can’t do much. Just like Trump has influence but ultimately can’t force votes.

Seriously, politics really shakes up Bitcoin prices. I kinda expect change to lead to a new ATH, but market reactions are the wild card. With Trump pushing for rate cuts, I wonder what’s gonna happen.