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Bitcoin (BTC) Dips Below $104K Ahead of Fed’s Rate Decision
Bitcoin is struggling to move higher despite impressive inflows recorded by US-based Bitcoin ETFs. The largest cryptocurrency is now in risk-off mode ahead of the Federal Reserve’s rate decision and Jerome Powell’s speech.
According to Alex Scaramucci, the trader believes that Bitcoin is unlikely to collapse all the way down to the $86,000 level as of now. However, he did predict that Bitcoin may reach $200,000 in 2025.
Despite the uncertainty surrounding the market, it seems like Bitcoin is not immune to the risk-off sentiment sweeping through global markets.
Source: u.today
