Bitcoin's price struggled to breach the $85,000 resistance on March 17, marking daily highs between $84,000 and $85,200 without a close above $84,600. With the Federal Open Market Committee (FOMC) meeting on March 18-19, volatility is expected, culminating in an interest rate announcement on March 19 at 2 pm ET, where there’s a 99% probability that rates will remain unchanged. Traders are focused on Fed Chair Jerome Powell's upcoming speech, with expectations leaning toward a hawkish approach due to inflation indicators and strong economic performance. Bitcoin needs to convert the $85,000 resistance into support to aim for $90,000; however, a failure to do so might push it below $78,000, with key support levels identified at $74,000 and between $70,530 and $66,810. Some analysts indicate a potential minor drop near the $70,000 level, while others suggest reclaiming $86,250 could confirm a bullish trend. The recent inflow of $274 million into Bitcoin ETFs is noted as a possible positive catalyst for price movement.

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