Golden Finance reported that Markus Thielen, research director of 10x Research, said that Bitcoin prices are expected to see a breakthrough before the Federal Reserve Open Market Committee (FOMC) meeting at the end of January. Bitcoin price is currently at $96,794, and this breakout could be to the upside or downside. Thielen noted in a market report on January 14 that Bitcoin is trading within a narrowing triangle range, indicating that a breakout is imminent and is expected to be no later than the FOMC meeting on January 29. From a trading perspective, the best strategy is to follow the breakout direction. He added that Bitcoin is likely to remain range-bound until mid-March due to weak market drivers. According to CME Fed Watch Tool data, traders in the federal funds futures market predict that the probability that the Federal Reserve will not cut interest rates in the first half of 2025 is 38.3%.