Bitcoin Rebounds Near $64,400 as Traders Await Fed Rate Decision

Bitcoin price has bounced back near $64,400 as traders position themselves ahead of the Federal Reserve's rate decision. Markets are pricing in a 30-35% chance of a rate hike due to sticky inflation and energy prices, creating cautious sentiment.

Technical indicators show a neutral stance with key support around $62,500 and resistance near $65,000. Institutional flows and onchain data suggest hesitation among investors, who are awaiting clearer guidance from the Fed.

The Federal Reserve's decision and upcoming economic reports will likely drive Bitcoin's next significant move. The rebound in price comes after a dip below $63,000 the previous day, with traders positioning themselves for potential volatility ahead of the rate decision.