Why Bitcoin Price Could Bounce After Today’s FOMC Meeting

Why Bitcoin Price Could Bounce After Today’s FOMC Meeting

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?

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Later today the U.S. Federal Reserve (Fed) will

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