Bitcoin Stuck in Bearish Trend Ahead of Fed Rate Decision
Bitcoin's price action remains in a bearish swing structure on the 1-day timeframe, unchanged since October.
The crypto has been fluctuating between $63.9k and $65k after being rejected at $66,956 on July 21.
Bearish ETF flows and selling pressure from miners have contributed to this trend, but whale accumulation from centralized exchanges suggests a bullish long-term outlook for investors.
Traders are advised to stay cautious as the price action is expected to be influenced by macro catalysts such as the Federal Reserve's rate decision on July 29.