Bitcoin Slips Near $63,000 Ahead of Fed Meeting

Bitcoin's price slipped to $63,235 as traders reduced their risk exposure ahead of the Federal Reserve's two-day meeting. The broader crypto market also saw declines, with Ethereum and Solana falling more sharply than Bitcoin.

The drop in prices comes as rate hike odds have climbed sharply this month, unsettling risk appetite across desks. Analysts expect a dovish tone from the Fed to support a rebound towards $66,000-$68,000, while a hawkish surprise could send prices tumbling toward $61,000.

Spot Bitcoin ETFs saw over $465 million in outflows, weakening institutional confidence in the market. Meanwhile, analysts point to the first major support zone at $62,500-$63,000 as a key area for buyers to focus on.