JAKARTA - The price of Bitcoin has fallen to the range of 70,000 US dollars after the results of the Federal Open Market Committee (FOMC) meeting showed a signal of monetary policy that still tends to be tight. This movement is influenced by macroeconomic factors, including a revision of the increase in US inflation to around 2.7 percent as well as interest rates that remain in the range of 3.50-3.75 percent.
Previously, Bitcoin had strengthened to approach US$76,000 on Tuesday, March 17, driven by institutional funds flowing into the Bitcoin spot ETF of US$199.37 million for the seventh consecutive session, while the total inflow over seven days reached US$1.16 billion. This shows the interest of large investors that are still maintained even though the market is experiencing volatility. However, after the FOMC meeting, investors made adjustments that affected the price movement, reflected in a correction of around 7-8 percent.
Responding to this, Vice President of INDODAX, Antony Kusuma, said that current market movements are influenced by the FOMC results which form new investor expectations for monetary policy.
"The FOMC's decision to maintain the benchmark interest rate and revise the upward inflation projection shows the Fed's policy direction which is still inclined to be hawkish. The market also captures the signal that inflation has not fallen as quickly as expected, so that liquidity into risky assets such as cryptocurrencies is more limited. However, this is part of the market adjustment to the evolving global economic dynamics," said Antony.
In its latest decision, the Fed maintained interest rates in the range of 3.50-3.75 percent and raised its 2026 inflation projection to around 2.7 percent. Fed Chairman Jerome Powell said that a rate cut would depend heavily on inflation developments, amid uncertainty due to the conflict in the Middle East and rising energy prices. This condition makes the opportunity for a rate cut in the near future more limited, thus affecting interest in risky assets, including crypto.
Bitcoin's current movement is in the range of 70,000 US dollars, with the 70,000-72,000 US dollar area becoming an important support level that investors are eyeing. As long as this level is able to survive, the price movement has the potential to remain stable in the short term, supported by the inflow of institutional funds that help absorb selling pressure. However, if the price passes this support level, the price adjustment has the potential to continue to lower levels.
Antony added, in the current market conditions, market sentiment tends to be influenced by macroeconomic factors.
"However, for investors, correction and consolidation phases like this can be used to re-arrange investment strategies more wisely with proper risk management and long-term focus," explained Anthony.
In line with this dynamic, INDODAX emphasizes its commitment to continue providing a safe, transparent, and easy-to-access crypto asset trading ecosystem for all members. INDODAX is also actively encouraging literacy and education of the community through INDODAX Academy, so that users understand the risks of investment and the importance of independent research (DYOR).
In addition, the implementation of strategies such as Dollar Cost Averaging (DCA) is one of the approaches that can help investors face market volatility more disciplined. Through continuous education, INDODAX invites the public to remain rational, responsible, and long-term oriented in responding to opportunities in the crypto market.
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