Bitcoin Traders Weigh in on BTC After FOMC With $55,000 Still a Target

Crypto Insight Summary: Bitcoin approached important near-term support on new Fed chair Kevin Warsh's first FOMC day with a $55,000 BTC price target still on the table. Bitcoin (BTC) fell below $65,000 on Wednesday as traders predicted the impact of a key macro event. Key points: * Bitcoin approaches the next Fed interest-rate decision near important support. * BTC price analysis warns that "bearish" moves typically accompany FOMC days. * $55,000 remains on the table as a target next. Data from TradingView showed intraday lows of $64,782 on Bitstamp. _BTC/USD one-hour chart. Source: Cointelegraph/_[_TradingView_](https://www.tradingview.com/symbols/BTCUSD/) The US Federal Reserve was due to decide on changes to interest rates at 2pm Eastern time —a move that formed the week’s main volatility catalyst. Crypto Insight Analysis: Direction: Bearish BTC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: FOMC meeting typically causes short-term volatility and bearish pressure on BTC.