Bitcoin has been making gains in recent days, pushing its price closer to the $80K milestone. However, the cryptocurrency is being capped by macro headwinds, including the Federal Reserve's decision to keep interest rates steady.
The Fed's move means that borrowing costs will remain high, cooling risk assets like crypto. This is a key factor holding back Bitcoin's price surge, as investors are less likely to take on risk when they can earn steady yields from bonds.
Despite this, experts are predicting a possible breakout above $80K. The chart looks strong, with Bitcoin trading above its 50-day and 200-day moving averages. However, a breakout would require significant volume, and traders should be cautious in the current market conditions.