Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Higher Ahead of Today’s Interest Rate Decision

Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Higher Ahead of Today’s Interest Rate Decision


Bitcoin was trading marginally higher on Wednesday, as traders were preparing for today’s interest rate decision. The Federal Reserve is expected to hike rates by 75 basis points for the second month running, as inflation in the United States continues to rise to multi-decade highs. Ethereum was also in the green, rebounding from Tuesday’s losses.

Bitcoin

Bitcoin (BTC) was trading slightly higher on Wednesday, as markets were anticipating today’s FOMC (Federal Open Market Committee) meeting.

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The world’s largest cryptocurrency fell to an intraday low of $20,776.82 on Tuesday, however the asset rebounded somewhat on hump day.

As of writing, BTC/USD hit an intraday peak of $21,415.67 in today’s session, as bulls attempted to stop yesterday’s bleeding.

Looking at the chart, prices are still trading below

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