Can Bitcoin price break $65K after the Fed decision?

Bitcoin price recovered 2.8% from an intraday low of $62,850 to around $64,650 on July 29 as traders positioned for the Federal Reserve’s interest rate decision. Summary Bitcoin rebounded 2.8% after buyers defended the 200-day exponential moving average near $62,850. $65,000–$65,200 remains the immediate resistance zone, reinforced by the 4-hour Supertrend indicator. Traders have purchased $2.5 billion in Bitcoin call spreads targeting a move toward $72,000. A rejection below $65,000 could expose $62,000–$62,500 as ETF outflows weaken spot demand. Bitcoin price recovers before the Fed decision According to data from crypto.news, Bitcoin (BTC) price rose from $62,850 to an intraday high near $64,775 before settling around $64,650. The recovery followed several sessions of selling across cryptocurrencies and technology stocks. The $62,850 low aligned with Bitcoin’s 200-day EMA, making the level an important test of its broader market structure. Short-term momentum indicators had also entered oversold territory following BTC’s decline from last week’s high near $66,700. Buyers entering around the long-term average helped trigger a rapid return toward $64,500. Short sellers who opened ...