Bitcoin needs to close above the key level of $81,000 on a weekly basis to avoid further downside volatility before the Federal Open Market Committee (FOMC) meeting next week. Ryan Lee, Chief Analyst at Bitget Research, stated that breaking above $81,000 this week will be crucial to prevent further decline in Bitcoin. Maintaining above this level will indicate resilience, but breaking below $76,000 could trigger more short-term selling pressure. According to CME Group's FedWatch Tool, the market currently expects a 98% chance of the Fed maintaining interest rates stable.
