Bitcoin bounces back to $109,000 as Fed holds rates
Bitcoin bounced back to around $109,000 after a short-lived drop to $106,400, thanks to traders cashing out some profits.
Ethereum and other big-name coins slipped too, pulling the total crypto market cap down by about 2% to $3.67 trillion.
The main culprits? A cautious vibe from the US Federal Reserve and over $1 billion in rapid-fire liquidations on major exchanges.
Bitcoin's key support and resistance levels
Crypto prices are moving more in sync with big stock indexes like Nasdaq, recently hitting 0.88, its highest since June, so global economic news matters more for your crypto wallet now.
Key support and resistance levels for Bitcoin—$105,400 and $110,700—are worth watching if you're trading or just curious where things might head next.
Traders eye $103K-$100K zone as next line of defense
Even though the Fed trimmed rates by 25 basis points, Chair Powell kept his cards close to his chest about future moves.
That uncertainty spooked investors and triggered those massive liquidations that briefly pushed Bitcoin below its 200-day average before it found its footing again.
If selling picks up steam, traders have their eyes on the $103K-$100K zone as the next line of defense.