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Bitcoin Stalls Near $105K Amid Steady Fed Rates – Sign of a Correction?
As the Federal Reserve decides to keep interest rates unchanged amid lingering inflation concerns, the crypto market has responded by stalling, with Bitcoin hovering around $104,794. This development raises questions about whether this stagnation could be an early sign of a correction in the making.
Despite a recent uptick in daily performance, the broader crypto market is treading water. The current situation suggests that investor caution continues to exert a significant impact on the market’s overall sentiment. While Bitcoin often sets the tone for the rest of the industry, it seems the recent rate cut decision has failed to instill confidence among investors.
The Fed’s reluctance to adjust interest rates could be interpreted as an indication that they are not yet convinced inflation is under control. This cautious approach may have triggered a degree of uncertainty among market participants, leading them to adopt a wait-and-see attitude.
In addition, the ongoing global tensions and bearish signals within the on-chain data further contribute to a sense of unease in the crypto space. On-chain indicators suggest a notable shift towards bearish activity, indicating that wallet addresses are aligning with such sentiment, which may ultimately result in a price dip.
With these external pressures weighing heavily on investor confidence, it is crucial to monitor closely for any subsequent developments that could potentially reshape the market dynamics.
Source: ambcrypto.com
