Trading Moment: Fed Decision Imminent, Gold and Silver Frenzy Continues, Bitcoin Challenges $90,000
The financial markets are focused on the upcoming Federal Reserve policy decision, with gold and silver continuing a historic rally. Spot gold broke above $5,270 per ounce, a new record high, while silver surged over 60% this month, attracting massive retail investor inflows. Major institutions like Citi and BMO issued extremely bullish forecasts, with Citi suggesting gold could reach $6,000 in a bull case.
Bitcoin is consolidating near $89,000, facing pressure from sustained outflows in US spot Bitcoin ETFs. Technical analysis shows a bearish cross on the weekly chart, the first since the 2022 bear market. However, some analysts point to a potential short-term rebound to $95,000, and macro factors like potential Fed actions could provide liquidity support.
Ethereum showed resilience, breaking above $3,000, with strong fundamentals and recovering trader confidence in derivatives markets. Altcoins faced volatility, exemplified by 1INCH's 20% drop due to poor liquidity.
Key data shows a Fear & Greed Index of 29 (Fear), and Bitcoin ETF outflows of $147 million. Market attention is on the Fed's rate decision and major tech earnings reports.
marsbit01/28 08:14