Bitcoin is trading near $76,000 after a sharp move lower yesterday.
Markets are fully focused on today’s Fed decision. A 25bp rate hike is widely expected, and traders are waiting to see the tone of the statement and the press conference.
Bitcoin is consolidating near $77,500 after a sharp rejection from the $79,500–$80,000 zone.
The main catalyst today is the U.S. Senate CLARITY Act cloture vote. Odds of the bill advancing have cooled significantly and the market is pricing in that uncertainty.
On top of that, the Fed decision is just around the corner. Higher oil prices are also adding some macro pressure.