Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower Ahead of Federal Reserve Rate Decision

Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower Ahead of Federal Reserve Rate Decision


ETH was close to falling below $1,000 on Wednesday, as markets began to prepare for the latest Fed policy meeting. Many expect that the FOMC will opt to hike interest rates today, as inflation continues to peak. BTC was also lower, hovering slightly above $20,000.

Bitcoin

BTC was hovering marginally above $20,000 in today’s session, as markets were anticipating the latest FOMC policy meeting.

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Following a high of $22,729.56 yesterday, BTC/USD sank to an intraday low of $20,178.38 earlier in the day.

As a result of this latest low, bitcoin has now fallen for nine straight days, losing over 30% of its value within that time period.

This latest drop now sees BTC hit a fresh 19-month low, as prices dropped to their lowest point

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