3.19 Evening BTC Analysis: FOMC Decision Bearish Catalyst Materialized, BTC's 69000 Key Support Determines Near-term Momentum

The Federal Reserve held rates steady at this FOMC meeting. Chair Powell's remarks clearly indicated that inflation has not fallen as expected, and the near-term window for rate cuts has essentially closed. This signal directly brought phase correction pressure to the market.

Before the data release, the market had already priced in pessimistic expectations ahead of time. Bitcoin pulled back from highs around 74,600 under selling pressure. Combined with US stocks opening lower and weakening, prices quickly dropped to around 70,400 where they bounced, though the rebound exceeded 1,000 points, the key resistance level failed to hold, and the overall structure remains weak.

The current focus is on the 69,000 round number support level. Whether this level holds or breaks will determine near-term momentum: if effectively broken downward, downside space opens further; if support stabilizes, prices likely continue range-bound consolidation.

On rebounds to the 70,200–70,700 range, consider entering short positions in batches. First target: 69,000 level#Gate13周年全球庆典