Respected analyst Michael van de Poppe predicts that Bitcoin will remain in a tight price range until Tuesday. His prediction follows a cautious market sentiment as investors are waiting for the outcome of the FOMC meeting.
Will Bitcoin Price Rise Significantly Before FOMC?
Van de Poppe indicated that Bitcoin has not shown any sign it can breakout. He stated that the BTC price will stay above $92,000 or below $85,000 and $85,000 until Tuesday. A softer tone from the FOMC may support risk assets like Bitcoin.
A more cautious stance may restrict appetite for gains. A recent market reaction showed similar behavior when Bitcoin surged above $90,000 following the Fed’s decision to end quantitative tightening (QT).
Van de Poppe noted that investors may act more conservatively till then. He said the overall market is not showing strong confidence.
According to him, this weak market confidence continues to influence Bitcoin and most altcoins. Bitcoin has not shown any significant movement in the past day, a trend that frequently happens before significant macro announcements.
Will Mid-Size Holders’ Purchase Raise Bitcoin Price?
While on-chain information suggests cautious market conditions, there are still a group of active investors. According to CryptoQuant, the number of addresses with 100 and 1,000 BTC have bought more of the token.
Rising accumulation from 100–1,000 BTC walletsThese wallets are often called mid-size holders because they sit between retail traders and large institutional whales. The latest data reveals that these addresses are accumulating Bitcoin at levels not seen in recent cycles. The one-year change in their combined holdings has pushed strongly higher during the recent consolidation period.
This trend shows that accumulation is continuing even as Bitcoin trades in a narrow band. Bitcoin also reacted positively to the latest U.S. PCE inflation data, even though it was only temporary. The PCE Price index increased by 2.8% with BTC rising above $90,000.
Usually, this wallet category accumulates more BTC before wider changes in market sentiment. This increased activity indicates continued optimism in the long-term price strength of the coin regardless of the volatility in the short-term.
BTC Price Action Stays Quiet
Bitcoin’s intraday performance reflects the same quiet behavior seen across the broader market. TradingView data shows BTC price moving within a tight range near $89,550, with the price posting only small gains during the last day.
Data also shows minimal momentum across key timeframes. Bitcoin is down over the past week and the past month. The broader outlook aligns with increasing caution among retail traders.
The current Fear and Greed Index is at 22, which suggests rising fear levels. This fear level is commonly evident at times of weak confidence which aligns with the near-quiet market mood before the FOMC decision.
Source: https://coingape.com/bitcoin-stalls-ahead-of-fomc-van-de-poppe-sees-no-break-until-tuesday/
