- Bitcoin surged 4% after the FOMC meeting, rebounding from $101,365 to $105,249 as investor optimism grew despite unchanged interest rates.
- If BTC breaks resistance at $105.4K and $107.2K, it could retest its all-time high of $109K, but failure to hold support may lead to a deeper correction.
Bitcoin (BTC) has bounced back 4% following the recent Federal Open Market Committee (FOMC) meeting, reigniting discussions on whether it could retest its all-time high of $109K. With bullish momentum building, traders are closely monitoring key resistance and support levels.
Why is Bitcoin Rallying After the FOMC Meeting?
The Federal Reserve decided to keep interest rates steady at 4.25% to 4.50%, triggering a surge in market volatility. Initially, Bitcoin dropped to $101,365 in response to Jerome Powell’s decision not to cut interest rates. However, it quickly rebounded by 4.01%, now trading around $105,249.
This recovery signals strong optimism among crypto investors, as uncertainty surrounding the FOMC decision fades. Adding to the bullish sentiment, Senator Cynthia Lummis’ recent tweet regarding a Strategic Bitcoin Reserve has also fueled excitement in the market.
Key Levels to Watch
From a technical standpoint, investors are eyeing two major resistance levels—$105.4K and $107.2K. If Bitcoin pushes past these hurdles, it could set the stage for a retest of the $109K all-time high.
However, a rejection at these resistance points could lead to a pullback, with key support levels at $104.4K, $102.2K, and $101.5K. If BTC breaks below $101.5K, deeper corrections toward $99.9K and even $98.4K could be in play.
What’s Next for Bitcoin and Crypto?
Bitcoin has remained above the crucial $100K psychological level for several weeks, showcasing resilience even amid macroeconomic uncertainty. Analysts believe that if BTC sustains its bullish momentum, the broader crypto market will continue its upward trend.
With altcoins also experiencing sharp recoveries—Litecoin up 15% and Solana climbing 9%—investors remain optimistic. However, all eyes are on whether BTC can break past $107K and approach its all-time high once again.
For now, Bitcoin’s price action remains crucial, and traders should closely watch the $105.4K level. Will BTC reclaim $109K, or is another correction on the horizon? The coming days will be decisive.
