Decoding Bitcoin’s midterm setup amid hawkish Fed risks

The next 48 hours could make or break Bitcoin’s November setup. The FOMC meeting on the 28th of October could be a major turning point for BTC momentum for the remaining Q4. After BTC.D fell below 60%, and with Bitcoin falling below its key resistance of $80k, a retest of $75k is increasingly in play. This potentially adds further downside pressure to crypto heading into November. Speaking to AMBCrypto ahead of the Fed meeting, Vugar Usi, CEO of MEXC, noted: The Federal Reserve is expected to keep interest rates unchanged at its October meeting as it balances rising inflation with a weakening labor market. With September payrolls increasing by just 29,000, policymakers may prefer to wait before making another move.

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