Bitcoin Holds Steady Near $63,000 Amid Fed Meeting Jitters
Bitcoin traded near $63,000 on Tuesday as investors awaited the outcome of the US Federal Reserve's policy meeting. The world's largest cryptocurrency fell 2.93% over the past 24 hours while Ethereum declined 4.31% to $1,884.
The easing of geopolitical tensions and softer oil prices have improved overall risk appetite, helping crypto recover from recent weakness. However, institutional conviction remains fragile, as seen in the $465 million in spot Bitcoin ETF outflows at the end of last week.
Nischal Shetty, founder of WazirX, noted that the immediate support zone lies between $62,500 and $62,800. Holding this range could encourage buyers to step in and support a short-term recovery, while a decisive break below it may accelerate selling pressure and trigger long liquidations.