TechFlow News, March 18: According to Cointelegraph, Bitcoin is currently trading at approximately $74,230—down roughly 2.6% from its six-week high of $76,000 reached on Tuesday. Markets widely expect the U.S. Federal Reserve to hold interest rates steady at this Federal Open Market Committee (FOMC) meeting.
Traders broadly believe the “no rate change” expectation has already been fully priced in; the real catalyst for volatility will be Federal Reserve Chair Jerome Powell’s remarks during the post-meeting press conference—his hawkish or dovish stance will directly influence market direction. Additionally, U.S.-Israel-Iran geopolitical tensions, inflation concerns, and rising oil prices represent further potential sources of volatility.
From a price perspective, Bitcoin must convincingly break above the $76,000 resistance level and convert it into support to advance toward the zone above $80,000. The next target lies at the 200-day simple moving average (SMA), currently at $87,411. If bulls lose control, price could retreat to the $72,000–$65,000 range, with an extreme downside scenario potentially pushing it down to $60,000.
