Bitcoin reached a price of $80,846, marking a 5.88% increase over 24 hours. The surge followed the Federal Reserve's decision to raise interest rates by 25 basis points, accompanied by a dovish policy forecast projecting a median rate of 4.1% through 2027.
The rapid price movement triggered significant liquidations in the derivatives market. Short positions totaling more than $445 million were liquidated across the cryptocurrency market, with Bitcoin short bets accounting for $230 million of that total.
Technical indicators currently signal a bullish trend. The Average Directional Index stands at 40.6, and the 50-day exponential moving average has crossed above the 200-day average, forming a golden cross pattern. The Relative Strength Index is at 63.3.
Market analysts note that volatility has been compressed for nearly two weeks, as indicated by the Squeeze Momentum Indicator. Immediate resistance for Bitcoin is identified at $82,281, while support levels are established at $75,569 and $68,858.
