Bitcoin price approached $80,000 last week but has since retreated over 3%, dipping below $76,000 as investors act ahead of this week’s Federal Open Market Committee (FOMC) meeting. Analysts connect this move to uncertainties surrounding the Fed’s upcoming interest rate decisions, which historically influence Bitcoin and other risk assets.
The recent price performance reflects a trend of recovery in April following a downtrend that began in October 2022. Michael Van De Poppe, a crypto analyst and founder of MN Fund, stated that Bitcoin price pullbacks typically occur before FOMC events. He noted, “Bitcoin will likely resume its upside if it manages to stay above $73,000,” while cautioning that a deeper pullback could occur if the price slides below that level.
Just a normal correction on the markets pre-FOMC, which is expectable for #Bitcoin.
It almost always happens prior to the event, as there's still a lot of fear for FED policies from the markets.
I do think that this correction ends prior to the actual FOMC meeting and, as long… pic.twitter.com/OCq5XS3cMc
— Michaël van de Poppe (@CryptoMichNL) April 28, 2026
The consensus indicates that the Federal Reserve will maintain a steady interest rate of 3.75%. Analysts expect flat market performance should this rate be confirmed, but potential risks loom. An increase to 4% could trigger a price drop, while a decrease to 3.5% might fuel a rally. Predictions from Polymarket suggest Bitcoin price could fall to $70,000 by April 29, indicating a bearish sentiment among market participants.
Recent geopolitical tensions and climbing oil prices raise concerns about higher inflation, potentially nudging the Fed towards rate hikes. Notably, stablecoin outflows have surged to historic highs, signaling declining buying pressure within the market. According to CryptoQuant, this trend points to decreasing confidence among investors.
CryptoOnchain analysis suggests that whales may be taking profits and preparing for further downside risks. The significant liquidity outflows add to the uncertainty, impacting Bitcoin’s price stability. At press time, Bitcoin was valued at $76,284, but its ability to surpass $80,000 remains uncertain amid inflation and potential interest rate hikes.
Despite recent challenges, Bitcoin is experiencing healthy demand from institutional players, ETFs, and accumulating addresses, which have built a solid price floor. However, analysts are wary that inflation and rising interest rates could compromise this support.
