Crypto
Bitcoin Price Stalls at $77,000 Ahead of Fed Decision
Bitcoin's price has stalled at around $77,000 as investors await the Federal Reserve's decision on the key interest rate.
The asset lacks spot demand, with derivatives driving the price instead. According to COINDREAM, the current market structure resembles the period from January to March, when derivatives primarily drove the price.
Experts believe that in the current conditions, risk management takes precedence over expectations of a prolonged increase in Bitcoin prices.
The derivatives pressure index has dropped further into negative territory, and the Coinbase Premium Index has been in negative territory since September 6.