Bitcoin tried to break above $90,000 at Thursday’s Wall Street open but retreated to about $88,800 as markets waited for a Federal Reserve interest-rate decision and Chair Jerome Powell’s press conference. (Ed. note: Powell’s remarks were the main focus for traders.) Data from TradingView showed BTC/USD near $90,500 before losses.
Traders expected no rate change, making Powell’s comments the likely market mover. Crypto trader Michaël van de Poppe forecast “Fireworks, that’s what we can expect” regarding market reaction.
Gold hit new record highs above $5,300 per ounce, while the US dollar weakened amid comments from Donald Trump. Trading resource The Kobeissi Letter commented “a weaker US Dollar comes with lower rates, higher US exports, a lower trade deficit, and higher nominal GDP growth”.
Geopolitical tensions tied to US maneuvers near Iran supported safe-haven flows. Despite macro uncertainty, crypto markets showed limited volatility and narrow trading ranges.
Market participants expect a decisive move from the range between roughly $86,000 and $93,000. Trader EliZ told followers “BTC cannot remain stuck in the middle” as liquidity sits at range extremes.
Analyst Rekt Capital stated that Bitcoin has consolidated between $86k–$93k since November, and warned that a weaker rebound could signal range-low weakness. “If this current rebound falls short of the previous +13% move then that would demonstrate that the Range Low is weakening” .
