Bitcoin Price Slips Below $64K as Traders Liquidate Ahead of Fed Decision

Bitcoin's price dipped below $64,000 on Tuesday as traders liquidated their positions ahead of the Federal Reserve's interest-rate decision. The drop was partly due to outflows from US spot Bitcoin ETFs and leveraged liquidations.

The 4-hour chart shows that Bitcoin broke below an ascending trendline that had supported its recovery from a late-June low near $58,000. The price attempted to move back above the trendline but stalled below $64,000.

According to data from CoinGlass, there is significant liquidity near $64,500 and $62,500, which could shape the next short-term move. Analyst Michaël van de Poppe maintained a bullish near-term outlook despite Bitcoin's latest pullback, predicting that it will target $68,000 in early August.