Bitcoin Trades Near $79,000 as Fed Rate Uncertainty, Selling Pressure Weigh on Crypto Markets
9 Articles
9 Articles
The Economic Times
Times of IndiaBitcoin trades near $79,000 as Fed rate uncertainty, selling pressure weigh on crypto markets
Bitcoin slipped near $79,000 as investors awaited the Federal Reserves policy decision. ETF outflows, macroeconomic uncertainty and selling pressure weakened sentiment, while traders monitored $78,000 support, inflation data and institutional demand for potential market direction.
The supply of stablecoins and trading volumes declined before the decisions of the Federal Reserve and the Bank of Japan. Bitcoin and Ethereum look for signs of recovery, while markets look beyond a probable pause and wonder what central banks will announce about December.
During today's Tuesday dealings, Bitcoin's currency regressed to continue its losses and fall below its last trading range, after Strategy stopped the largest listed company with the encrypted currency...
Bitcoin is at a critical juncture, as the Fed's upcoming interest rate decision coincides with a weakening technical picture.
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