[Analysis] "Bitcoin to Maintain Range-Bound Until Mid-March"

An analysis has emerged suggesting that Bitcoin prices will continue to remain range-bound until mid-March this year.

According to Cointelegraph on the 15th, Markus Thielen, head of research at the U.S. virtual asset analysis firm 10x Research, stated in a report on the 14th (local time) that "the market momentum is weak, making it highly likely that Bitcoin will maintain its range-bound status until mid-March."

However, Thielen also mentioned the possibility of a Bitcoin breakout (an event where an asset enters a new price range). Thielen is particularly focused on the Federal Open Market Committee (FOMC) meeting scheduled for the 29th of this month. He noted, "Bitcoin prices could break out ahead of the FOMC meeting," adding, "(However) this breakout could be either an upward or downward movement from the current level." He further added, "If inflation indicators come out lower than expected, it could trigger a Bitcoin rally."