{"id":22145,"date":"2025-03-17T16:41:02","date_gmt":"2025-03-17T14:41:02","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-consolidates-below-84000-ahead-of-fed-meeting-as-focus-shifts-to-altcoins\/"},"modified":"2025-03-17T16:41:02","modified_gmt":"2025-03-17T14:41:02","slug":"bitcoin-consolidates-below-84000-ahead-of-fed-meeting-as-focus-shifts-to-altcoins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-consolidates-below-84000-ahead-of-fed-meeting-as-focus-shifts-to-altcoins\/","title":{"rendered":"Bitcoin Consolidates Below $84,000 Ahead of Fed Meeting as Focus Shifts to Altcoins"},"content":{"rendered":"<p>On March 17, the price of the leading cryptocurrency failed to break resistance near $84,500. However, the subsequent pullback was moderate due to a &#8220;buy the dip&#8221; sentiment, as reported by <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/17\/bitcoin-slumps-ada-sol-xrp-drop-5-as-buy-the-dip-sentiment-persists\">CoinDesk<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1481.webp\" alt=\"1-1481\" class=\"wp-image-254311\"\/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/VOr1bq2L\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Following last week&#8217;s sell-off amid recession fears and &#8220;trade wars,&#8221; the dynamics have become more balanced.<\/p>\n<p>Augustin Fan, Head of Analytics at SignalPlus, highlighted that buyers are supported by relatively fair valuations of companies outside the most capitalized names, as well as expectations of no negative surprises in key macroeconomic statistics.<\/p>\n<p>Nick Rak, Director at LVRG Research, noted an increase in altcoin turnover following the purchase of MNT and AVAX cryptocurrencies by World Liberty Financial, associated with the family of U.S. President Donald Trump.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;This could be a sign of a shift in focus to other digital assets that can yield higher returns than Bitcoin or Ethereum,&#8221;<\/em> the expert suggested.<\/p>\n<\/blockquote>\n<p>QCP Capital noted the cryptocurrency fear and greed index remains in the worry zone, considering the broader negativity in stock markets.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"306\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1050-1024x306.png\" alt=\"2-1050\" class=\"wp-image-254315\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1050-1024x306.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1050-300x90.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1050-768x229.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1050.png 1172w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"http:\/\/alternative.me\/\">alternative.me<\/a><\/figcaption><\/figure>\n<p>This did not prevent Bitcoin from avoiding a new major wave of sales, experts indicated.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Asia Colour \u2014 17 Mar 25<\/p>\n<p>1\/ Over the weekend, a <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> whale opened a $400M short position at $84K with a 40x leverage. Traders attempted to force liquidation, which needed just a 2.5% move, but the position is still open\u2014racking up $400K in funding fees.<\/p>\n<p>\u2014 QCP (@QCPgroup) <a href=\"https:\/\/twitter.com\/QCPgroup\/status\/1901569420235059410?ref_src=twsrc%5Etfw\">March 17, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Statements by U.S. Treasury Secretary Scott Bessent, who, like Trump, did not rule out a recession, put pressure on the quotes.<\/p>\n<p>According to experts, the upcoming March 19 meeting of the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Fed<\/span> will introduce volatility, as traders will seek any hints regarding the resumption of policy easing amid uncertainty due to White House actions.<\/p>\n<p>Earlier, Wells Fargo <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-predict-bitcoin-surge-post-march\">forecasted<\/a> a Bitcoin recovery in the second quarter if the stable correlation with the stock market persists.<\/p>\n<p>Previously, options traders <a href=\"https:\/\/u1f987.com\/en\/news\/traders-wager-550m-on-bitcoin-sliding-to-70000\">placed $550 million<\/a> on further weakening of digital gold in March. Some analysts suggest that the price <a href=\"https:\/\/u1f987.com\/en\/news\/nansen-analyst-describes-bitcoins-path-to-70000-as-organic\">could drop to $70,000<\/a> before a subsequent rise.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 17, the price of the leading cryptocurrency failed to break resistance near $84,500. However, the subsequent pullback was moderate due to a &#8220;buy the dip&#8221; sentiment, as reported by CoinDesk. Hourly chart of BTC\/USDT on Binance. Data: TradingView. Following last week&#8217;s sell-off amid recession fears and &#8220;trade wars,&#8221; the dynamics have become more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1224,1145],"class_list":["post-22145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-macroeconomics","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22145"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22144"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}