Bitcoin gave back early gains around Wednesday’s Wall Street open, falling 0.3% on the day at the time of writing as markets awaited a Federal Reserve interest-rate decision. BTC/USD failed to break above $81,700 and fell as low as $80,297 on Bitstamp. The decision had not yet been announced; CME Group data put the odds of rates staying at 3.75%–4% at 90.6%.
Bitcoin also remained below its 50-day simple moving average of $81,831, which acted as short-term resistance. Glassnode said bids had shifted toward $78,000–$79,000 and identified that range as the first area where it would expect buyers to step in if the price fell further.
