BlockBeats news, on October 28, according to analyst alicharts, despite Bitcoin rising over 1% today, it remains highly likely to be affected by the FOMC curse and experience another significant decline.
According to the data provided, the Bitcoin whale group has recently realized approximately $156 million in profits, increasing potential selling pressure. Meanwhile, the whale group's holdings have decreased by about 8,162 BTC—valued at around $664 million—over the past 24 hours. This decline suggests that large holders are reducing their exposure ahead of the FOMC decision.
Alicharts believes Bitcoin's key support level is near $81,000, where nearly 1 million BTC have traded according to URPD. If this level is breached, the next levels to watch are $77,000 and then $67,000. For a bullish reversal, Bitcoin needs to break above $84,500, where approximately 620,000 BTC have traded.
Additionally, recent FOMC patterns and Bitcoin price movements show that Bitcoin’s volatility within the first hour after the meeting is typically less than 1%. A clearer trend usually emerges over the next 24 hours and often persists for up to a week.