Crypto market today: pressure ahead of the Fed’s decision
BTC slipped below $76,500–77K, giving back Monday’s gains — the drop is linked to expectations of a 25 bps rate hike by the Fed (probability is estimated at 85–93%), which will be announced today at 14:00 ET. The key technical level to watch is $76,500: a break below opens the way to the $72–74K zone.
Additional pressure comes from: spot Bitcoin ETFs experiencing four consecutive days of outflows, the sale of 539K BTC by long-term holders in the $77–80K range, and a stalled vote on the CLARITY Act in the Senate (the odds of passage fell from 44% to 18%). The Fear & Greed Index dropped from 81 to 67 — the market is shifting into a cautious mode.
The key: the market’s reaction will depend less on the rate hike itself (it’s already priced in) and more on Fed Chair Kevin Warsh’s tone regarding further steps. Softer rhetoric could reverse the ETF flow and ease some of the pressure.
#Bitcoin❗ #fomc #CryptoMarket #Binance
BTC slipped below $76,500–77K, giving back Monday’s gains — the drop is linked to expectations of a 25 bps rate hike by the Fed (probability is estimated at 85–93%), which will be announced today at 14:00 ET. The key technical level to watch is $76,500: a break below opens the way to the $72–74K zone.
Additional pressure comes from: spot Bitcoin ETFs experiencing four consecutive days of outflows, the sale of 539K BTC by long-term holders in the $77–80K range, and a stalled vote on the CLARITY Act in the Senate (the odds of passage fell from 44% to 18%). The Fear & Greed Index dropped from 81 to 67 — the market is shifting into a cautious mode.
The key: the market’s reaction will depend less on the rate hike itself (it’s already priced in) and more on Fed Chair Kevin Warsh’s tone regarding further steps. Softer rhetoric could reverse the ETF flow and ease some of the pressure.
#Bitcoin❗ #fomc #CryptoMarket #Binance
