Crypto
Bitcoin Hangs in the Balance Ahead of Fed Decision
The Bitcoin price is hovering around $77,000 ahead of today's Federal Reserve decision, which will likely determine whether BTC can recover towards $80,000 or extend its decline.
Rising Treasury yields and a stronger dollar have put pressure on risk assets, while the Fed's rate move and forward guidance will be crucial for Bitcoin's next move.
If the Fed raises rates by 25 basis points and signals further tightening, higher yields and a stronger dollar could weigh on BTC, pushing it below $76,000 support.
On the other hand, if the Fed hikes but signals a slower path for additional increases, the reaction could be more supportive for Bitcoin, allowing it to recover towards $80,000.