Bitcoin Resists Tech Sector Downturn Amid Fed Meeting Looms

The crypto market is resisting the downturn of tech stocks as the Fed's meeting and major economic indicators approach, sparking a shift in investor perception.

While AI giants like Nvidia are seeing profit-taking, Bitcoin has remained above $65,000 with a 4% increase from last Friday. This resilience has been accompanied by Ether's ETH/BTC ratio reaching a three-month high, seen as a bullish indicator by Bitmine and Fundstrat.

Nicolaï Sondergaard, senior research analyst at Nansen, cautions that the market's recent price rise lacks buying conviction, predicting a potential pullback to between $52,000 and $58,000 unless fundamental conditions improve.