Bitcoin momentum loss is pre-FOMC derisking, not a trend change
Traders cut risk ahead of Wednesday’s Federal Reserve decision on interest rates, and a long-awaited crypto policy report from the White House.
Key points:
Bitcoin’s price compression and the Bollinger Bands suggest a range expansion will occur soon.
This week’s early price weakness is likely the result of traders cutting risk ahead of Wednesday’s FOMC and a White House update on its crypto policy and Bitcoin strategic reserve.
