Bitcoin Price Analysis – Post-FOMC Dip Could Set Up a Rally Toward $79K

Highlights:

• Bitcoin dips, but rising volume shows short-term bearish pressure, not panic selling.
• Post-FOMC weakness keeps BTC near $74K support before a possible rebound.
• CLARITY Act hopes, and dovish Fed expectations may fuel a move toward $79K.

Bitcoin (BTC) is slightly in the red today, reflecting the market’s intraday weakness. At the time of writing, Bitcoin was trading at $76,104, down 1.16% for the day. However, Bitcoin trading volumes are slightly up in the day, rising 21.76% to $39.82 billion. The slight increase in volumes while the price is mildly in the red hints at short-term short selling rather than a panic exit from Bitcoin.

Investors still expect the price to keep pushing higher, but are taking advantage of short-term weakness to short Bitcoin on the shorter timeframes. The logic behind these dynamics stems from Bitcoin’s past price action. 

Bitcoin Price Weakens After FOMC

In the last 8 FOMC meetings, Bitcoin has tended to drop. However, the drop is often arranged so as not to break the structure. The price often finds support before resuming the overall uptrend. This time around, the situation is not different. The FOMC ended yesterday, and the Federal Reserve left rates unchanged. However, the market did not dump as this decision was factored into the price action.

As in past FOMC cycles, Bitcoin is hovering above the $74K support level. Short sellers may target this area, while spot buyers expect the structure to hold and support another move higher.

Positive News Around CLARITY Act Could Send Bitcoin Higher

Outside of short-term speculation around the FOMC, Bitcoin’s upside could be driven by positive progress around the CLARITY Act. The latest news around CLARITY is that it is set to get a committee markup in May. This is a big deal, as it could mean the bill is set for a full Senate vote soon.

Excitement around this committee markup could see Bitcoin bid up in the short- to medium-term. This is already evident in the fact that, unlike past FOMC-related price action, Bitcoin is sending positive signals intraday. This is likely due to the news about the market structure bill. 

Expectations Around New Federal Reserve Chairman Could Send BTC Higher

Another positive factor ahead for Bitcoin is that a new Federal Reserve chairman is set to take office. The incoming one, Kelvin Walsh, is expected to adopt a policy approach more in line with President Trump’s wishes for lower interest rates.

Bitcoin bitcoin:native is about to go PARABOLIC

Kevin Warsh wants to lower interest rates

But there's a HUGE catch https://t.co/U53hDbcKnj pic.twitter.com/WjURDwKQh6

— Ethan (@0xEthan) April 29, 2026

Since risk-on assets like Bitcoin tend to do well in low-interest-rate environments, the odds are that Bitcoin could do well under Walsh’s tenure as Federal Reserve governor. This anticipation could see Bitcoin rally ahead of his official taking over as markets front-run his expected policies. The fact that he is coming in at a time when risk-on assets are showing resilience could play a major role in pushing Bitcoin to new highs in the short- to medium-term. 

Technical Analysis – Bitcoin Price Trending Towards Critical Support Level

Since breaking out of the bullish channel on April 27, Bitcoin has been pushing lower intraday. If the ongoing selloff continues, the key level to watch is $74,723. If this support holds, Bitcoin could rebound and rally to $79,316 in the short term.

On the other hand, if bears breach the $74,723 support, a correction to $70,708 could follow. Of these scenarios, a rally to $79,316 is more likely now that there is some positive news around the CLARITY Act.