Bitcoin (BTC) settled at $26,500 as the new week began, after experiencing some volatility and reaching new highs earlier in September.
Bitcoin saves volatility for weekly close
Over the weekend, BTC price stabilized, according to data from Cointelegraph Markets Pro and TradingView.
Just two days prior, Bitcoin had surged to $26,880, reaching its highest levels of the month so far.
Notably, popular trader and analyst Credible Crypto observed that there was a significant amount of buying support in the Binance BTC/USD order book.
Meanwhile, fellow trader Crypto Tony anticipated two potential scenarios, with $26,000 remaining a key support level.
Can FOMC shift BTC price range?
Looking ahead, crypto market participants are eagerly awaiting the upcoming key macroeconomic event from the United States Federal Reserve. The Federal Open Market Committee (FOMC) meeting on September 20 will decide benchmark interest rates, with expectations that they will remain unchanged.
Although Bitcoin has previously reacted strongly to macroeconomic data, recent trends suggest that the cryptocurrency may remain stable going into the FOMC meeting.
As popular trader Crypto Santa remarked, "Next week's FOMC and interest rate decisions should induce some volatility, but BTC will likely continue to trade within $25k - $27k in the short-term."
Please note that this article does not contain investment advice or recommendations. Readers should conduct their own research before making any investment decisions.
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