Analyst: Watch FED for Bitcoin, Ethereum, and This Price! - Coin Bulletin

The analyst, who said it is necessary to closely follow the developments on the FED and Ethereum (ETH) front for the future of cryptocurrencies, emphasized that $92,500 is crucial for Bitcoin (BTC) for now.

According to Nexo Dispatch analyst Iliya Kalchev, the policies of the (Federal Reserve) and Ethereum's Pectra update will have an impact on liquidity and investor sentiment in the cryptocurrency market, determining Bitcoin's ability to maintain the $92,500 support.

Iliya Kalchev, speaking to The Block, said that the $92,500 support for Bitcoin is important for determining the direction in the short term.

Market participants should closely monitor the Federal Reserve's policy direction as these developments can affect liquidity and investor sensitivity. Bitcoin's ability to maintain the $92,500 support level will be critical in determining its short-term trajectory.

Kalchev also emphasized the need to closely monitor Ethereum's Pectra update and the changing regulatory environment for crypto ETFs. Kalchev pointed out that these developments could bring new dynamics to the market, emphasizing the importance for investors to closely follow both technical developments and regulatory processes.