Technical analysis by YavuzOZ_23 about Symbol BTC on 12/17/2024

Donald Trump has promised to make the US the "crypto capital of the planet and Bitcoin superpower" and announced that he will make Bitcoin a strategic reserve. With these statements, Bitcoin rose to unprecedented levels, up to $100K. However, tomorrow's FED meeting will be followed with great attention in the markets. A 25 basis point reduction in interest rates has almost certainly been priced in. However, recent strong inflation data and the resilient structure of the US economy indicate that the FED may approach interest rate cuts for 2025 more cautiously. In addition, the inflationary impact of Trump's potential economic policies may lead the FED to take a more careful stance. If the FED revises its inflation estimates upwards in its projections and makes statements that interest rate cuts will be postponed, there may be a sharp sell-off in the markets, especially in Bitcoin. Although the markets have the potential to rise thinking that the interest rate cut is certain, downward movements can be expected after such statements.