Bitcoin (BTC) Price Analysis & Prediction: BTC/USD Bulls Aim to Reclaim $100,000 as FOMC Event Looms

Cryptocurrency markets are trading slightly up as the Federal Reserve continue to hold interest rates steady.

Crypto markets saw a slight uptick in trading activity as the Federal Reserve maintained interest rates.

Here are some key statistics and notable developments from the session:

Top Gainers:

Bitcoin (BTC) rose marginally by 0.03% to trade at $98,000.

Ethereum (ETH) gained 0.21%, trading at $2,800.

Dogecoin (DOGE) surged by 1.27% to reach $0.24.

Trader Notes:

According to Glassnode data, the ratio of profit to loss volumes among Bitcoin Long-Term Holders (LTH) remained high, indicating a bullish market.

The ratio highlights the虧損 volume held by LTHs, which remained minimal throughout the bull market.

This observation suggests that most LTHs have been accumulating at a price lower than the current market value.

Crypto trader Follis highlighted the potential for a classic FOMC shakeout, which could remove weak hands and reset leverage, ultimately leading to further price increases.

If Bitcoin were to quickly recover post-FOMC, it would add momentum to the uptrend.

Meanwhile, crypto trader Rekt Capital noted that Bitcoin was testing the diagonal resistance within the $101,000-$106,000 range, and a daily close above this resistance would be critical for a breakout.

Without this close, previous upside wicks might face rejection at these levels.