Bitcoin traded near $64,260 on Wednesday, holding above a key support level after a bounce. The move comes as traders brace for two events that could shift the market: the release of Federal Reserve minutes and a White House meeting that reportedly has the administration bullish on the CLARITY Act. A price forecast sees BTC reaching $66,000.
Price action
Bitcoin bounced off support at $62,800, a level that has held so far. Resistance sits between $64,400 and $65,000, meaning the current price is testing the lower end of that range. The bounce suggests buyers are stepping in, but the range is tight.
Fed minutes
The Federal Reserve's minutes from its latest meeting are due, and they'll shape interest rate expectations. Higher rates tend to pressure risk assets like crypto, so traders will parse the language for any hints on the pace of cuts or hikes. The minutes are a routine release, but the market is sensitive to any shift in tone.
CLARITY Act
The White House is reportedly bullish on the CLARITY Act, a bill that could bring regulatory clarity to crypto. A meeting is scheduled to discuss it, and the administration's stance is seen as a positive signal. The bill's progress could influence how institutions approach digital assets.
Forecast
One forecast sees Bitcoin reaching $66,000, which would break through the current resistance. That level is above Wednesday's price, but it would require a decisive push past the $65,000 ceiling. Whether that happens depends on how the Fed minutes land and whether the CLARITY Act talks produce anything concrete.
The next concrete thing is the Fed minutes release and the White House meeting. Traders will watch whether Bitcoin can push past $65,000 resistance.
