BTC struggles beneath $90K while gold surges to $5.3K all-time high ahead of FOMC
Bitcoin remains confined within a tight trading range even as the US dollar weakens and gold climbs ahead of the upcoming FOMC meeting.
Bitcoin (BTC) made an effort to climb back above the $90,000 threshold as Wall Street trading commenced on Thursday, with market participants looking ahead to key US macroeconomic developments.
Key points:
- Bitcoin fails to maintain momentum above $90,000 while gold rallies and US dollar strength deteriorates.
- The Federal Reserve interest-rate announcement sees sideways movement in equity markets.
- Bitcoin market participants remain positioned for an eventual range breakout.
Bitcoin bulls struggle to push past $90,000
Information from TradingView revealed BTC/USD reaching nearly $90,500 before surrendering those gains, dropping back down to $88,800.
American equity markets began trading sideways throughout the session in anticipation of a fresh announcement regarding interest-rate policy from the Federal Reserve.
According to Cointelegraph's coverage, market participants anticipated no modifications would occur during the Federal Open Market Committee (FOMC) meeting. Greater attention was focused on the subsequent speech and media briefing delivered by Chair Jerome Powell.
"Fireworks, that's what we can expect," crypto trader, analyst and entrepreneur Michaël van de Poppe predicted in an X post on Wednesday.
Gold provided a potential preview of what might unfold, reaching fresh all-time highs surpassing $5,300 per ounce throughout Asia's trading session.
Simultaneously, US dollar strength experienced significant weakness amid indications that US President Donald Trump was comfortable utilizing it as an instrument to enhance US export competitiveness.
"Objectively speaking, the US Dollar just posted its worst year in 8 years. When asked about it for the first time, President Trump could have easily pushed back on the recent decline. In fact, he said the US Dollar is like a 'yo-yo,' which he could swing to either direction, acknowledging his ability to reverse its decline," trading resource The Kobeissi Letter commented on the topic.
"If this is the case, why didn't President Trump speak in favor of strengthening the US Dollar? Because a weaker US Dollar comes with lower rates, higher US exports, a lower trade deficit, and higher nominal GDP growth. And, most importantly: higher asset prices."
Rising geopolitical tensions, currently centered on the US army's strategic positioning relative to Iran, contributed to the safe-haven asset rally.
BTC price "cannot remain stuck in the middle"
Maintaining a pattern that has become increasingly familiar, Bitcoin and alternative cryptocurrencies were unable to take advantage of the prevailing macro uncertainty sentiment.
Within the trading community, frustration was mounting, with widespread agreement pointing toward an inevitable breakout from Bitcoin's confined trading corridor.
"At the moment, liquidity is concentrated at the extremes of the range. BTC cannot remain stuck in the middle: sooner or later, it will have to take stops and orders from one of the two sides," trader EliZ told X followers on the day.
Trader and analyst Rekt Capital observed decreasing volatility contained within the range, though cautioned those holding bullish positions.
"At the end of the day, Bitcoin has simply been consolidating between $86-$93k since November 2025. The first reaction from the Range Low yielded a +13% move. Thus far, this rebound is +4%," an X post on the day stated.
"If this current rebound falls short of the previous +13% move then that would demonstrate that the Range Low is weakening as support which could precede macro breakdown over time."
Previously, Rekt Capital highlighted a bearish trendline crossover appearing on the BTC/USD weekly chart — a technical pattern that historically triggered extended moves toward bear market lows in past cycles.