Bitcoin is currently stabilizing around $103,000 as traders speculate on its next move amidst a challenging macroeconomic landscape, where the Federal Reserve maintains a hawkish stance. Despite a previous surge to $105,000, bullish momentum seems to be waning, leading to cautious trading. Analysts suggest that while a consolidation phase may precede another price increase, the outlook for the broader bull market remains mixed. Key resistance around $108,000 is highlighted as a critical level for a potential breakout toward $120,000. Recent lower-than-expected inflation data has momentarily boosted market sentiment, but expectations for interest rate cuts from the Fed have shifted. Market participants now anticipate fewer cuts in 2025, adjusting from earlier predictions. As the crypto landscape awaits upcoming US macro data, traders remain optimistic about Bitcoin's capacity to capitalize on any favorable conditions. However, overall risks from the Federal Reserve's policy decisions continue to loom over risk assets.

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