Bitcoin Price Drops as Fed Meeting Looms: Market Analysis & BTC Forecast

The cryptocurrency market is experiencing heightened volatility as Bitcoin (BTC) faces renewed selling pressure. Key technical levels are being tested, pushing BTC back toward a critical support zone that traders are closely monitoring. This downward movement comes ahead of a pivotal Federal Reserve (Fed) interest rate decision, which is creating uncertainty across global financial markets, including crypto. Analysts suggest that the Fed's policy outlook on inflation and economic growth will be a major catalyst for Bitcoin's short-term price direction. Market sentiment has turned cautious, with increased attention on the $60,000 support level for BTC. The broader altcoin market is also seeing declines, mirroring Bitcoin's weakness. Experts advise investors to watch for the Fed's statement and subsequent market reaction for clearer directional cues.