Bitcoin Dips to $69,500 But Avoids Six-Week Lows Seen on Gold
The post Bitcoin Dips to $69,500 But Avoids Six-Week Lows Seen on Gold appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) rebounded from weekly lows into Thursday’s Wall Street open as inflation targeted BTC price strength. Key points: Bitcoin price action preserves its new local trading range between 2021 highs and 2025 lows. Gold leads a macro asset sell-off after the Federal Reserve continued a hawkish stance on interest-rate policy. Fed Chair Jerome Powell says that the next rate cut depended on inflation “progress.” Bitcoin struggles after hawkish Fed meeting Data from TradingView showed a drop to $69,500 on the day, with BTC/USD reaching the area of its old all-time high from 2021. BTC/USD four-hour chart. Source: Cointelegraph/TradingView The pair then returned above the $70,000 mark before circling the 2021 level, helping preserve a narrative of comparative strength despite various macro pressures. On Wednesday, the focus switched from the Middle East and oil to US inflation as the Federal Reserve chose to hold interest rates at previous levels. “Uncertainty about the economic outlook remains elevated. The implications of developments in the Middle East for the U.S. economy are uncertain,” Chair Jerome Powell said in an official statement. Fed target rate probabilities (screenshot). Source: CME Group FedWatch Tool Powell’s subsequent press conference reiterated that “progress” was required on inflation for rates to come down — a key tailwind for crypto markets. “The rate forecast is conditional on the performance of the economy, so if we don’t see that progress, you won’t see the rate cut,” he told reporters. SUMMARY OF FED DECISION (3/18/2026): 1. Fed halts rate cuts for the second straight meeting 2. Fed projects one rate cut in 2026, one in 2027 3. Fed 2026 PCE inflation forecast revised higher to 2.7% 4. Fed says implications of Middle East developments are “uncertain” 5. Fed… — The Kobeissi Letter (@KobeissiLetter) March 18, 2026 With just a single cut in 2026 now…
Filed under: News - @ March 20, 2026 4:23 am