Fed Rate Hike Looms as Bitcoin Seeks Stability Amid Inflation Data Release

Major financial institutions are anticipating a 25-basis-point interest rate hike from the Federal Reserve during their upcoming meeting on Wednesday.

This expectation comes from prominent banks such as JPMorgan, Goldman Sachs, Morgan Stanley, and Bank of America, according to recent reports.

In related news, Bitcoin has been finding support despite a chaotic market environment. Data from Santiment Intelligence shows that Bitcoin whales have maintained their holdings at approximately 5.23 million units over the past few days.

The price of BTC has been fluctuating within a narrow range between $78,000 and $80,000, with some analysts predicting a significant move in either direction pending key inflation data releases this week.