Bitcoin price bounce rejected at 50-day trend line ahead of FOMC, earnings — SkimNews
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- Bitcoin gave back early gains around Wednesday’s Wall Street open: TradingView data showed BTC/USD failing to break $81,700, while Bitstamp recorded a low of $80,297 and the pair was down 0.3% at writing.
- Keith Alan identified Bitcoin’s 50-day simple moving average at $81,831 as resistance on short time frames and said a four-hour close below $80,565 reduces the probability of retesting it.
- CME Group showed 90.6% odds of a pause at Wednesday’s FOMC; markets overwhelmingly expected the current 3.75%-4% range to hold, while the December meeting outcome remained a 0.25% rate hike.
- Kevin Warsh was the focus for December rate odds: Keith Alan said his words could shift those odds, while the Nov. 3 U.S. midterm election outcome had not been priced into markets.
- Glassnode found only $3.4 million in bids at $80,000; liquidity shifted to $78,000-$79,000, where orders totaled about $42 million versus $24 million in mid-October, forming the largest near-price block and the first place buyers would be expected to step in on a dip.
- Charl van Zyl said the Fed move and the week’s key tech-earnings data would materially influence market views of AI-sector health; the Nasdaq Composite remained 34% below its June 22 record after a nearly 10% two-day bounce.
Why it matters: For Bitcoin traders, the $80,000 area offers little visible cushion: Glassnode finds only $3.4 million in bids there, with the larger $42 million block shifted to $78,000-$79,000. A four-hour close below $80,565 would reduce the probability of retesting the 50-day $81,831 resistance.
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