Bitcoin (BTC) price continues to move in a box range, fluctuating between $117,000 (approximately 162.63 million won) and $120,000 (approximately 166.80 million won) early this week. Market analysts are focusing on the price compression phenomenon of the Bollinger Bands technical indicator and are leaning towards the possibility of a strong directional breakout soon. In particular, the results of the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday and the White House's cryptocurrency policy and Bitcoin strategic reserve report are emerging as key variables.
This downward pressure is interpreted as traders adjusting their positions to avoid risks ahead of a major event. Some investors suggest that Bitcoin may test support levels from $114,000 (approximately 158.46 million won) to as low as $110,000 (approximately 151.54 million won), but ultimately expect a rebound opportunity after major policy announcements.
The market is especially attentive to whether President Trump will officially hold Bitcoin as a strategic asset. The White House report is expected to specifically disclose the amount of Bitcoin currently held by the US government, and if recognized as a strategic reserve asset, it could signal a policy shift. This trend is expected to induce a perception change towards the US cryptocurrency industry and potentially provide positive long-term market momentum.
Meanwhile, the macroeconomic schedule is also complex. Meta Platforms ($META), Ford ($F), Robinhood ($HOOD), and Microsoft ($MSFT) will announce their earnings, and US employment indicators, GDP, consumer sentiment index, Purchasing Managers' Index (PMI), and ISM indices for manufacturing and services will be simultaneously released. Additionally, Federal Reserve Chair Jerome Powell's statement is scheduled, which could cause the market to react sensitively throughout the day.
According to CME Group's FedWatch, the market currently sees a 98% probability that the Federal Reserve will maintain the benchmark interest rate in the 4.25-4.5% range. However, with President Trump publicly pressuring for an interest rate cut, Chair Powell maintains a neutral stance, adhering to the principle of determining adjustments based on future economic indicators.
The cryptocurrency market is predominantly in an observational mode ahead of these major events. According to market information platform TRDR, Bitcoin's futures open interest decreased from $50.58 billion (approximately 70.36 trillion won) to $49.58 billion (approximately 68.93 trillion won) shortly after the US market opened. Coinglass reported that long positions worth $173.8 million (approximately 241.6 billion won) were liquidated in the past 12 hours.
Amid this complex interplay of short-term adjustments and strategic events, market interest in Bitcoin's future movements is higher than ever.
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