The post Bitcoin Consolidation Possible as Traders Watch for Breakout Amid Fed’s Hawkish Stance appeared on BitcoinEthereumNews.com.

Bitcoin remains in a tight range around $103,000 as traders eye potential upside, though macroeconomic factors add complexity to market sentiment. The cryptocurrency market displays a cautious optimism, with traders anticipating a potential breakout, while differing views on the bull market persist. “If BTC remains calm, then alts can do their own thing for a bit,” highlighted by trader Byzantine Trader, reflecting on the current market dynamics. Bitcoin hovers around $103,000 as traders await opportunities for a breakout, balancing macroeconomic influences and crypto market sentiments. Bitcoin Faces Resistance at $108,000: Traders’ Insight Recent data from Cointelegraph Markets Pro indicates that Bitcoin’s price has been magnetically drawn to $103,000, raising alerts among traders. Despite reaching $105,000, upward momentum appears to be fading after significant gains earlier in the month. Market watchers are now increasingly focused on potential consolidation as a precursor to future volatility, with many anticipating further upward movement. Altcoin Growth Potential Amidst Bitcoin’s Consolidation As Bitcoin stabilizes, altcoins may benefit from this period of calm. “If BTC remains calm, then alts can do their own thing for a bit,” remarked Byzantine Trader. This sentiment suggests that the altcoin market could experience gains independent of Bitcoin’s price movements, highlighting a potential shift in trading strategies among investors. Market sentiment shows a preference for short-term gains, indicating a cautious optimism that could revitalize altcoins in the approaching weeks. Federal Reserve’s Policies Continue to Affect Market Sentiment The impact of macroeconomic data has been notable as markets await the release of the Producer Price Index (PPI) on May 15, following a CPI report that fell below expectations. QCP Capital emphasizes that despite a reprieve from inflation concerns provided by recent CPI figures, the Federal Reserve’s hawkish stance is still a significant factor influencing market dynamics. Their analysis points to an adjustment in…

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Filed under: News - @ May 14, 2025 9:28 pm