"FOMC, Need to Pay Attention to Fed's Stance... Bitcoin May Have Potential for Rebound"

Amid the scheduled Federal Open Market Committee (FOMC) meeting, analysis suggests that Bitcoin (BTC) could recover to $90,000.

On the 20th (local time), Marcus Thielen, CEO of 10X Research, said in an interview with Cointelegraph, "After this FOMC meeting, the Federal Reserve (Fed) is likely to take a dovish stance," adding that "considering Bitcoin is currently in an oversold state, there is a possibility of a rebound."

He continued, "As inflation concerns are easing in the United States, there is a possibility that Bitcoin could recover to $90,000," but added that "this meeting will not be a major turning point for the bull market."

Iliya Kalchev, an analyst at Nexo, also stated, "If the Fed hints at the possibility of ending Quantitative Tightening (QT) at the FOMC meeting, market liquidity could increase, allowing risk assets to rebound," and that "the Fed's accommodative stance will act as a new bullish momentum for Bitcoin." However, he added, "If ongoing inflation concerns and a tightening environment are emphasized, Bitcoin's upside potential will be limited."

Meanwhile, the FOMC meeting announcement is scheduled for 3 AM (KST) on the 20th. Thirty minutes after the announcement, at 3:30 AM (KST), Fed Chairman Jerome Powell will explain the interest rate policy through a press conference.