Bitcoin Stays Below $76K as Fed Rate Decision Approaches
- Bitcoin (BTC) traded below $76,000, nearing its lowest levels since August, at $74,960.
- The US Federal Reserve is expected to announce a 0.25% rate hike, raising the federal funds rate to 3.75-4%.
- Onchain support for Bitcoin has thickened around $68,000, with bid liquidity shifting toward this price point.
- The odds of a Fed rate hike exceed 90%, despite calls from President Trump for cuts.
- Oil prices have surged to $106.70 per barrel, impacting inflation and economic decisions globally.
As the Federal Reserve prepares for its interest rate decision, Bitcoin remains under pressure near critical support levels influenced by broader economic conditions, including rising oil prices affecting inflation rates.
With Bitcoin trading just below $76,000 and significant onchain support at $68,000, market participants are closely monitoring the Fed’s upcoming announcement on interest rates.(Source)
