Bitcoin price bounce rejected at 50-day trend line ahead of FOMC, earnings
Summary
Bitcoin slipped 0.3% after failing to break above $81,700, trading as low as $80,297 ahead of the Federal Reserve’s rate decision. Markets widely expected rates to remain at 3.75%–4%, with attention on Fed Chair Kevin Warsh’s comments and their potential effect on expectations for a December rate hike. Bitcoin’s 50-day moving average near $81,831 acted as resistance. Glassnode reported that buy orders near $80,000 had dwindled to $3.4 million, while larger bid liquidity had shifted to $78,000–$79,000, a potential support zone if prices fall.
