By lutch 
In a critical moment for Bitcoin’s price trajectory, Bitcoin Sellers Wait at $104K as the cryptocurrency hovers near this significant resistance level. This scenario unfolds as the Federal Reserve (Fed) prepares for the Federal Open Market Committee (FOMC) meeting, with President Donald Trump’s public demands for lower interest rates adding an additional layer of complexity to market expectations.
The Bitcoin market has been in a state of anticipation, with sellers poised at the $104,000 mark, ready to capitalize on any signs of a price retreat. This level has become a battleground, with Bitcoin’s price action closely tied to the outcomes of the FOMC meeting. The market’s attention is particularly focused on Fed Chair Jerome Powell’s comments, given Trump’s vocal push for monetary easing.
Trump’s influence on the Fed’s decisions has been a topic of speculation, especially after his remarks at the World Economic Forum where he suggested he would “demand that interest rates drop immediately.” Such statements have historically injected volatility into financial markets, and this time, the crypto market is no exception. The pressure from Trump for lower rates is seen by some market participants as a potential catalyst for Bitcoin, considering how lower interest rates could make Bitcoin more attractive as an investment compared to traditional assets with diminishing returns.
However, the market sentiment remains mixed. While some traders view Trump’s influence as a bullish signal for Bitcoin, others are cautious, expecting the Fed to maintain its hawkish stance or at least not cave to political pressure immediately. Data from the CME Group’s FedWatch Tool suggests a high probability of rates remaining unchanged, which adds to the uncertainty.
This uncertainty is reflected in Bitcoin’s price behavior, with liquidity data showing a concentration of sell orders just below $104,000, as per CoinGlass. This could lead to a significant price drop if the market turns bearish following the FOMC announcement. Conversely, if the Fed signals a dovish pivot or even hints at future rate cuts, Bitcoin might break through this resistance, opening the door to new all-time highs.
Analysts like Pierre on X have noted that $96,000 must hold as support to prevent further downside moves, while a break above $103,000 might signal a breakout. The discussion on X includes a range of opinions, from those advocating for buying the dip to those preparing for potential volatility waves post-FOMC announcement.
The Bitcoin Sellers Wait at $104K scenario encapsulates the broader market’s tension between immediate profit-taking and long-term investment strategies, all under the shadow of macroeconomic policy decisions. This event could set the tone for Bitcoin’s price in the coming weeks, making it a pivotal moment for investors and traders alike. https://x.com/Lutcheann