Bitcoin remains near monthly lows ahead of Fed rate decision
Bitcoin price slips below $76,000 as traders await the Fed decision Watch key support levels and what a rate move could mean for the next breakout
Bitcoin traded below $76,000 on Wednesday as markets waited for the US Federal Reserve’s interestrate decision. The cryptocurrency was near its lowest level since Aug. 21, with traders focused on whether policymakers would raise rates again.
Market data showed a high probability of a 0.25% rate hike, which would lift the federal funds rate to a 3.75% to 4% range. Analysts said an unchanged policy decision would be an unusual dovish surprise given current expectations.
Onchain and orderbook data suggested support around $68,000, with another potential support area near $71,300. If selling pressure deepened, analysts pointed to a lower range around $62,000 to $65,000 based on prior supply levels.