Traders Expect Bitcoin Volatility Ahead of Federal Reserve Rate Decision

Several well-known traders have expressed their views on the recent trend of Bitcoin. Trader TheKingfisher pointed out that there is a dense concentration of long positions in the $95,700-$96,000 range, while a large number of short positions are concentrated in the $96,500-$97,000 range. These price levels may act as magnetic points, and significant volatility is expected. Analyst Michaël van de Poppe believes that as long as Bitcoin remains above $91,500-$92,000, it still has the potential to reach new highs. He also cautioned that the cryptocurrency market tends to experience a pullback before the Federal Reserve meeting, and it is expected to bottom out on Tuesday before rising again.