PANews reported on October 20 that Wintermute stated in its latest market weekly report that, with the Federal Reserve meeting and the midterm elections approaching, implied volatility remains low. It expects BTC to soon break out of its current trading range around $82,500, though the specific direction remains uncertain. The Federal Open Market Committee (FOMC) meeting on October 28 is most likely to serve as a turning point, with outcomes potentially diverging sharply: if the Fed keeps interest rates unchanged but adopts a hawkish stance, the market will price in expectations of a December rate hike ahead of time, pushing yields higher, putting pressure on the Nasdaq index and dragging Bitcoin prices lower; conversely, if the Fed takes a cautious approach and third-quarter earnings exceed expectations, such pressures would ease, creating room for bulls to push prices above $87,000.
Wintermute: The $82,500 price range for Bitcoin will soon be breached, and the FOMC meeting may be a pivotal moment.
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