Bitcoin's Future Hinges on Fed's Actions and Predictions from Experts

The $30,000 level has become a crucial battle line for Bitcoin bulls, with the market pricing in a 92% chance of a modest 25-basis-point increase in interest rates by the US Federal Reserve. While raising interest rates could curb inflation, it could also have negative consequences for families and small businesses. Bitcoin's resilience above $28,000 could be a sign of investors' perception shifting from seeing it as a risk asset to a scarce digital asset that benefits from a weaker traditional banking system. Bitcoin futures and options markets suggest that professional traders are not placing their bets on the BTC price breaking above $30,000 anytime soon.