10x Research: Bitcoin's breakthrough may not be later than the Fed's FOMC meeting in January

Markus Thielen, head of research at 10x Research, said Bitcoin prices are poised for a late January breakout ahead of the Federal Open Market Committee (FOMC) meeting on January 29. “From a trading perspective, the best approach is to follow the breakout, regardless of direction,” Thielen said. Expectations for a rise in the consumer price index have risen, which could mean a Bitcoin rally could be triggered if inflation falls short of expectations, Thielen said. The January FOMC meeting marks the first interest rate decision until 2025. Crypto market participants are closely watching the date given the Fed’s hawkish comments in December.