Bitcoin and major cryptocurrencies traded largely unchanged ahead of Kevin Warsh’s first FOMC meeting, supported by improving ETF inflows as traders brace for potential volatility around the Fed decision.
Notable Statistics:
- Coinglass data shows 82,131 traders were liquidated in the past 24 hours for $297.87 million.
- SoSoValue data shows net inflows of $10.06 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $9.6 million.
- In the past 24 hours, top losers include Audiera, DeXe and Humanity.
Notable Developments:
Trader Notes:
Trader MacroCRG expects potential short-term volatility around the upcoming first FOMC meeting of Kevin Warsh. Bitcoin is possibly wicking lower before finding support near a key weekly level below the current range.
Despite near-term profit-taking in tech stocks and Bitcoin, the outlook remains bullish for risk assets after the Fed decision, provided the Fed chair doesn’t deliver an aggressively hawkish message.
Daan Crypto Trades sees Bitcoin continuing to print higher highs and higher lows on lower timeframes, signaling a constructive short-term trend. A breakout above the $65,300 resistance level could open the door for a move toward $68,000 and beyond.
However, failure to reclaim that level may lead to renewed downside pressure, with traders closely watching the FOMC decision for volatility and directional cues.
Trader Titan believes Bitcoin is approaching a key cycle turning point, though the current phase remains slow and uneventful. Patience is needed, as this consolidation period is viewed as a critical stage where the foundation for the next major bull market is being established.
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