Bitcoin trades near $79,000 as Fed rate uncertainty, selling pressure weigh on crypto markets
Investors pared risk as spot bitcoin ETFs saw $773 million in outflows and traders awaited the Federal Reserve's rate decision, data showed.
- Bitcoin rose 2% to just above $81,000 on Wednesday as traders positioned for the Federal Reserve's rate decision, with markets expecting policymakers to hold the federal funds target range at 3.75%-4.00%.
- Chart readings place Bitcoin below its nine-day moving average of $81,416, while the Relative Strength Index stands at 45.52, below the neutral 50 level, suggesting buying momentum has not fully recovered.
- Santiment reported that approximately 14,942 BTC left exchanges on a net basis, marking the largest daily outflow in five weeks, while institutional flows attracted approximately $110.3 million after two consecutive ETF withdrawal sessions.
- Geopolitical tensions have complicated the market outlook following reports of potential military action against Iran, with officials warning Gulf Arab countries to prepare for a "short, intense military campaign" after the Midterm elections.
- Analyst Ali Martinez noted that Bitcoin recorded negative fourth-quarter returns during the previous three Midterm election years—2014, 2018, and 2022—while higher energy costs could further complicate Federal Reserve policy expectations if geopolitical tensions persist.
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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 $78,000 support, inflation data and institutional demand for potential market direction.
The updated value of Bitcoin and the comparison with the previous day.The keys to understanding the volatility of the main cryptocurrency in the market.
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The Fed decides on the US central rate. While the markets expect a pause in interest rates, analysts warn of further increases. Bitcoin threatens new pressure.
Bitcoin operates in a slight fall on Monday (26), close to US$ 80 thousand, after falling to US$ 79,2 thousand on the weekend. The fall occurred amidst tensions in the Middle East and was enlarged by the forced closure of leveraged positions. This morning, the oil fall brought some relief, although the market remains cautious before the Federal Reserve (Fed) interest decision on Wednesday. At around 10.50 a.m., bitcoin fell 0.3% in 24 hours, to …
Bitcoin Faces Another Drop as $80M in Buy Orders Cluster at $78K–$79K
Bitcoin faces more downside pressure as buyers struggle to stop the ongoing price decline. Analyst Ted Pillows identified $78,000–$79,000 as the next key support zone, citing more than $80 million in buy orders clustered within that range.Visit Website
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