Bitcoin Faces Obstacle at $75,000: Federal Reserve Meeting and Middle East Situation May Become Key Turning Points

Gate News, March 18 — After reaching the $75,000 mark, Bitcoin’s upward momentum has slowed, and market concerns about a short-term top are increasing. Although institutions continue to accumulate, with Strategy, led by Michael Saylor, purchasing approximately $1.6 billion worth of Bitcoin this week, bringing their total holdings to about $58 billion, the price trend remains under macroeconomic uncertainty pressure.

Data shows that institutional demand remains solid. Since March, Bitcoin ETF fund inflows have exceeded $1.5 billion, supporting a price rebound. Analyst Mark Pilipczuk pointed out that corporate asset allocation and ETF demand recovery are key drivers of Bitcoin’s recent rebound, which has gained about 6% over the past week.

However, some market views suggest that this rally is more driven by short covering rather than continuous new inflows. Once short covering ends, buying momentum may weaken, and there is a risk of a price correction.

The current market focus is on the Federal Reserve’s interest rate meeting. The consensus expects rates to remain between 3.5% and 3.75%, but investors are more attentive to Powell’s statements on inflation and future policy directions. Due to the Middle East situation, international oil prices temporarily surged past $100 per barrel, increasing inflationary pressures and complicating policy outlooks.

Meanwhile, conflicts between the US, Israel, and Iran continue to escalate, with the Strait of Hormuz disruptions affecting global oil supplies—about one-fifth of the world’s oil supply faces uncertainty. Ed Yardeni described the current environment as a “fog of war,” suggesting that geopolitical risks could disturb market sentiment over a longer cycle.

With multiple factors intertwined, Bitcoin’s short-term trend enters a critical window. If macroeconomic conditions tighten or policy signals turn hawkish, prices may face resistance near $75,000; conversely, if liquidity expectations improve, a continued rebound is possible.