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Crypto

Bitcoin Price Stalls Ahead of Fed Rate Hike Decision

Guavy AI Editorial Team
Instruments
BTC
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The Bitcoin price has been holding steady near $77,255 ahead of Wednesday's Federal Reserve rate-hike decision. The US central bank is expected to raise borrowing costs, which could put pressure on the cryptocurrency.

Rekt Capital notes that the price risks a bearish weekly close if it falls below its 50-week exponential moving average. This would be a significant sign of weakness in the market.

The Cryptomist is also tracking Bitcoin's price movement, expecting a temporary rise into resistance between $79,400 and $80,000 before renewed selling.

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