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Bitcoin stalls near $105K amid steady Fed rates – Sign of a correction?
The cryptocurrency market has been experiencing a lukewarm reaction to the recent decision by the Federal Reserve to keep interest rates unchanged. Despite the moderate uptick in Bitcoin’s daily performance, the broader crypto market is still struggling to break free from its stagnation.
As Bitcoin hovers near $104,794, investors are left wondering if this could be an early indication of a potential correction on the horizon. The lack of movement in the cryptocurrency market has sparked concerns among traders and analysts alike, with many now questioning whether the bull run is losing steam.
While some have argued that a Fed rate cut would be the primary catalyst for the next significant move, it seems that investors are holding back due to uncertainty surrounding the central bank’s future stance. The recent comments from President Donald Trump, criticizing Federal Reserve Chair Jerome Powell as “stupid,” only added fuel to the fire of caution among investors.
The data suggests that broader global developments have also played a significant role in dampening market sentiment. The heightened tension between Iran and Israel has sparked renewed tariff threats, further exacerbating investor jitters. On-chain indicators are also painting a bearish picture, with more wallet addresses aligning with bearish activity than bullish, hinting at the possibility of a price dip ahead.
Bitcoin’s influence on the broader crypto market cannot be overstated. As such, any substantial drop in its value could potentially trigger widespread corrections across the board.
Source: ambcrypto.com
