Zinger Key Points
- Bitcoin may retrace to key liquidity levels at $92,700 and potentially $85,100.
- One analyst remains bullish on 2025 overall, but says the current correction could extend through Q4 in a worst-case scenario.
- Feel unsure about the market’s next move? Copy trade alerts from Matt Maley—a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now.
Bitcoin BTC/USD is up to nearly $97,000, boosted by renewed liquidity from China and heightened anticipation around the FOMC's interest rate decision. But traders remain split on whether this marks the start of another rally or a setup for another correction.
What Happened: Crypto trader CJ remains cautious.
He says Bitcoin must flip the $99,000–$102,000 resistance zone to shift market bias toward new all-time highs and a potential run to $125,000.
Until then, CJ expects downside toward $92,700, and possibly $85,100, key zones of liquidity.
On shorter timeframes, CJ is watching for short setups above local highs and long entries near or below $92,700. His current strategy emphasizes patience, waiting for cleaner setups instead of chasing noisy, low-quality trades.
A potential trade idea involves tagging a local fair value gap followed by a run of equal highs into the FOMC.
Also Read: Corporations Will Pour $330 Billion Into Bitcoin By 2029: Bernstein
Why It Matters: Analyst Stockmoney Lizards adds that Bitcoin's movement isn't solely dictated by FOMC decisions or rate hikes.
Instead, it follows broader market cycles driven by macro forces and investor psychology.
Looking at the macro chart, they see a clear pattern: a post-COVID boom, the 2022 bear market bottom near the 200-week simple moving average, a 2024 breakout to new highs and a potential 2025 consolidation phase after crossing $100,000.
Macroeconomic events often coincide with moments of extreme fear or euphoria, reinforcing historical market patterns.
Even if Bitcoin sees an extended correction now, the outlook for 2025 remains bullish.
The trader emphasizes tuning out short-term noise and staying focused on the longer cycle.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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