Bitcoin’s price is range-bound between $117,000 and $120,000, with potential for a move below $118,000. Traders are cautious ahead of the FOMC and a White House update on crypto policy and a strategic Bitcoin reserve. The US government’s Bitcoin holdings will be revealed, and market awaits news from Fed Chair Powell and corporate earnings reports.

Federal Reserve is expected to keep interest rates unchanged, despite pressure from President Trump. Traders are reducing risk before FOMC, leading to a sell-off in large-cap tokens. Bitcoin’s open interest drops to $49.58 billion, with $173.8 million in long positions liquidated. Positive news could trigger a breakout from the current price compression.

Bitcoin’s intraday volatility has decreased by 45% in the past three weeks, with a tight daily range. This price compression usually precedes a strong move, potentially triggered by FOMC minutes and bullish White House news. Bollinger Bands suggest an imminent range expansion for Bitcoin’s price. Trading involves risk, and readers should conduct their own research.

Read more at CoinTelegraph: BTC Price Compression May End With White House Crypto Report