CandleFocus Bitcoin (BTC) Dips Below $104K Ahead of Fed's Rate Decision
2024-12-18
Author: Content Editor
Bitcoin's price dropped to an intraday low of $103,353, currently trading at $103,735, down 2.7%. This follows a record high of $108,135 on Tuesday. The volatility is attributed to the Federal Reserve's upcoming rate hike, with a 97% chance of a rate cut. Traders are anticipating a potential shockwave in the market and a significant Bitcoin price correction if rates are left unchanged. Prominent trader Josh Olszewicz believes $100,000 is a crucial level for Bitcoin's defense but doesn't expect a collapse to the $86,000 level. Despite impressive flows into US Bitcoin ETFs, Bitcoin is struggling to move higher.
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