Market Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Bitcoin hits a new record high but faces a sharp pullback after Fed's hawkish stance.began the week with optimism, reaching a new record high near $108,000, buoyed by positive statements from U.S. President Trump about the crypto's potential as a reserve asset. However, the mood quickly soured midweek as the Federal Reserve’s hawkish stance triggered a significant pullback in the cryptocurrency market, and Bitcoin's momentum stalled.
The key support level to watch was $98,750, and its breach has led to a test of $95,000 as the week draws to a close. If Bitcoin fails to hold this level, it could slide toward $92,800, with further losses possibly down to $88,000 or even $83,000. While the current cycle mirrors last year’s pattern, it remains to be seen whether Bitcoin can avoid a similar fate. Last year, a period of consolidation gave way to a surge fueled by expectations of Fed rate cuts and the launch of Bitcoin ETFs. In 2025, Trump's actions on crypto and easing inflation and labor data could trigger another rally. If these factors align, Bitcoin could continue its upward trajectory, despite short-term corrections.
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