With the FOMC practically concluded, the market is reacting with a strong sell-off in both crypto and stocks. The FED has announced to keep their interest rate stable for the 4th time in a row, as it wants to see a stronger reduction in inflation before cutting rates.
Higher rates for longer, the market doesn't like that.
As seen on the chart, BTC is trading in a decent uptrend for the last week. However, there's a risk that the FOMC will mark a top and that the bears will take over from here. Keep in mind, bears are still waiting patiently after the post-ETF sell-off.
If BTC breaks through the bottom support, we could quickly fall back towards 41k or even lower.
with fed hawkish tone more likely Bitcoin will reverse.
Bitcoin_Weather
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BTC will go up
MyCryptoParadise
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With a significant risk of falling back towards 41k if support levels are broken. This situation underscores market sensitivity to prolonged high interest rates.