Wintermute: Bitcoin to Stay Rangebound Until September FOMC Meeting

BitcoinWorld Wintermute: Bitcoin to Stay Rangebound Until September FOMC Meeting Bitcoin is likely to remain confined to a trading range between $75,000 and $82,000 until the U.S.

Federal Open Market Committee (FOMC) meeting on September 15-16, according to crypto market maker Wintermute. The firm noted that near-term direction is difficult to predict, but buying support is emerging from investors who have not yet fully increased their allocations.

Key Support and Resistance Levels Wintermute observed that repeated selling pressure has emerged around the $82,000 mark, while support is established at $75,000 and $72,000.

The firm warned that if Bitcoin breaks below $72,000 on a weekly closing basis, the next clear support level would be difficult to identify, potentially leading to increased volatility.