TechFlow news, January 15 — According to Cointelegraph, Markus Thielen, Head of Research at 10x Research, said that Bitcoin's price is poised for a breakout ahead of the Federal Open Market Committee (FOMC) meeting at the end of January. Currently trading at $96,794, this breakout could be either upward or downward.
In a market report on January 14, Thielen noted that Bitcoin is trading within a tightening triangular range, indicating an imminent breakout expected no later than the FOMC meeting on January 29. From a trading perspective, the optimal strategy would be to follow the direction of the breakout.
He added that due to weak market drivers, Bitcoin may remain range-bound until mid-March. According to data from the CME FedWatch Tool, federal funds futures traders assign a 38.3% probability that the Federal Reserve will not cut interest rates in the first half of 2025.
