Bitcoin Price Slips Below $64,000 Ahead of Fed Decision

Bitcoin's price slipped below $64,000 before stabilizing near $63,500 ahead of the Federal Reserve decision. The largest cryptocurrency fell from nearly $64,900 to around $63,200 in a short period due to strong selling pressure and high trading volume.

The Relative Strength Index (RSI) and Bollinger Bands indicate improving momentum with cautious optimism. The RSI recovered well after the earlier decline and stood near 56, while its moving average remained close to 61.

Market participants are closely watching the Federal Reserve policy meeting, which may impact risk assets worldwide. Traders anticipate new information regarding interest rates and future monetary policy, and a surprise by the central bank may induce significant price fluctuations in Bitcoin and other digital currencies.

The Bollinger Bands suggest fresh volatility ahead, with the distance between the bands narrowing compared to the sharp move earlier in the session. A strong push above the upper band could attract fresh buyers and support another advance.