Bitcoin (BTC) slipped below $88,000 into Sunday’s weekly close as traders monitored volatile price action ahead of a major US macro event. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing about $2,000 across two hourly candles, ending an otherwise quiet weekend.
The move reopened the possibility of a new gap forming on CME Group’s Bitcoin futures chart. Historically, CME gaps often get “filled” quickly once the new macro trading week begins; trader Killa noted that “in 6 months, we have filled every single CME gap.” He added that Monday price action frequently sets pivots for the week: if the weekend fails to pump, a pivot low on Monday becomes more likely; a weekend pump raises odds of a pivot high.
Market attention centered on the Federal Reserve’s upcoming interest-rate decision. CME Group’s FedWatch Tool showed markets pricing in a 25 basis-point cut at Wednesday’s FOMC meeting. Private investment manager Peter Tarr called the rate decision the “#1 event of the week,” saying liquidity, risk appetite and positioning hinge on it, and flagged a delayed JOLTS report as another data point to watch.
Bitcoin has historically come under downward pressure into FOMC announcements as traders parse Fed language for policy clues. Crypto trader and analyst Michaël van de Poppe suggested that FOMC nerves could drive a pullback toward $87,000 before a swift rebound. He said a bounce from that area would confirm the uptrend, clearing $92,000 and setting a run toward $100,000 over the coming one to two weeks if the Fed reduces quantitative tightening, cuts rates and expands money supply. Van de Poppe identified $86,000 as a critical support level bulls must defend.
As always, traders and investors remained positioned for heightened volatility around the FOMC and the start of the trading week, with some watching CME gap mechanics and Monday’s pivot potential for directional cues.
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