The Bitcoin price has been moving sideways over the past few days bound solely to macroeconomic factors. The benchmark cryptocurrency was rejected north of $20,000 after “The Merge” and seems poised to face volatility over today’s trading session.
At the time of writing, Bitcoin (BTC) trades at $19,200 with sideways movement in the last 24 hours and a 5% loss over the past week. As the market moves past “The Merge”, crypto has returned to its correlation with global markets and the most important factors driving the price action: inflation and interest rates.
BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview What To Expect For The Bitcoin Price Ahead Of The FOMC Meeting?
Later today the U.S. Federal Reserve (Fed) will