Bitcoin Price Falls Below $64K Ahead of Fed Decision

Bitcoin's price slipped below $64,000 on Tuesday as traders reduced their risk exposure ahead of the Federal Reserve's interest-rate decision. The decline was driven by a combination of factors, including ETF outflows and leveraged liquidations.

US spot Bitcoin ETFs recorded $11.64 million in net outflows on July 27, marking a third consecutive session of withdrawals. This added to the selling pressure, which saw BTC drop 2.5% during Tuesday's session.

The price action also broke below an ascending trendline that had supported the recovery from its late-June low near $58,000. The daily RSI slipped to 48.13, indicating that selling pressure continues to exceed buying demand.