Bitcoin shrugs off AI selloff as a key Fed week could decide what’s next
By Krisztian Sandor from CoinDesk
Bitcoin and the broader crypto market have stayed relatively steady even as AI-linked tech stocks came under pressure.
Bitcoin held around $65,000, up about 4% since Friday, while ether (ETH) hit its strongest price in nearly two months.
That resilience now faces a major test.
With the Federal Reserve’s policy decision, key U.S. inflation data, and earnings from several technology giants all due this week, analysts say the next few days could determine whether bitcoin finally breaks out of its months-long range or slides back toward June lows.
Encouraging technical picture
Joel Kruger, market strategist at LMAX Group, said crypto’s ability to hold up during volatility in traditional markets is “encouraging,” and may signal that digital assets are starting to decouple at the margin from conventional risk assets.
Kruger said bitcoin needs to clear $67,300 to break out of the multi-week consolidation that has capped prices since June, while ether faces a similar test at $2,000.
Fundstrat co-founder Tom Lee also highlighted ether’s recent outperformance versus bitcoin as a constructive sign for the broader market, noting that the ETH/BTC ratio reached a three-month high.
Rally lacks demand amid macro risks
Not everyone is convinced bitcoin is ready for a sustained breakout.
Nansen senior research analyst Nicolai Sondergaard said the recent rebound lacks the kind of buying conviction typically seen ahead of durable rallies.
In his view, the market is holding a range without strong buyers and could pull back toward $52,000–$58,000 unless conditions improve.
Sondergaard pointed to falling bitcoin futures open interest despite higher prices, as well as order-book data that still indicates net selling pressure.
He said the Fed’s rate decision and communication will likely set the tone for risk assets, alongside Thursday’s core PCE inflation report, GDP data, major tech earnings, and Friday’s large options expiry in bitcoin and ether.
For Nansen to turn more constructive, the firm wants to see stronger stablecoin inflows to exchanges, sustained spot bitcoin ETF demand, and signs that long-term holders have stopped selling at a loss.
