bitbank analyst: Bitcoin holds after FOMC, focus on US rates and Middle East
- —The Fed raised rates by 25 bps; the dot plot allows for one more hike by year-end
- —BTC held support at $75,500 and returned to $77,000; resistance is at $78,000
- —The 10-year Treasury yield near 5% is a key level for further movement
- —Rising oil prices due to the Middle East could strengthen rate-hike expectations
Why it matters: Although the Fed has tightened its rhetoric, the market is not pricing in a sharp rate increase, so BTC remains range-bound; a break of $78,000 or $75,500 will set the direction.
Source: CoinPost