3.19 Evening Bitcoin Outlook: FOMC Meeting Bearish Expectations Realized, BTC Key Support at 69000 Determines Momentum

The Federal Reserve held rates steady at this FOMC meeting. Chairman Powell's remarks clearly indicated that inflation has not cooled as expected, and the near-term rate cut window is essentially closed. This signal has directly exerted phase bearish pressure on the market.

Before data release, the market had already priced in pessimistic expectations. Bitcoin pulled back from around 74600 highs under pressure, compounded by weak U.S. stock opening that weighed heavily, price quickly dipped to around 70400 where it stabilized and rebounded. Although the rebound exceeded 1000 points, key resistance levels failed to hold firmly, and the overall structure remains weak.

Currently, the core focus is on the 69000 round number support. The break or hold of this level will determine near-term momentum: if effectively broken below, downside space opens further; if support stabilizes, it will likely continue range consolidation.

Enter short positions in batches on rebounds to the 70200–70700 range, with first target at the 69000 level#Gate13周年全球庆典