Bitcoin Price Stabilizes Around $77K Ahead of Fed Rate Decision

The price of Bitcoin has stabilized around $77,000 as the market waits for the Federal Reserve's interest-rate decision this week. According to data shared by Fox News, there is a high probability of a rate hike at Wednesday's Fed policy meeting.

Market experts now bet on a 90% likelihood of a rate hike, with the chances of keeping rates unchanged dropping to less than 10%. This announcement could negatively affect the digital asset market. The Federal Reserve will announce its interest-rate decision this week, and most experts expect it to hike interest rates by 0.25%.

The second half of September poses a major risk for Bitcoin and the crypto market as central banks raise interest rates, tightening financial conditions and decreasing appetite for riskier assets. As a result, crypto assets could feel renewed selling pressure. A rate hike would send BTC down toward $70,000 and even lower.