Crypto: Bitcoin Price Fails To Follow As Gold Hits $5.3k Record Into Fomc
Bitcoin disappointed with an apparent failed breakout above $90,000 after gold soared to fresh highs and US dollar strength nosedived.
Bitcoin (BTC) attempted a rebound past $90,000 at Wednesday’s Wall Street open as markets awaited US macro cues.
Bitcoin struggles to hold a $90,000 uptick as gold surges and US dollar strength crumbles.
The Federal Reserve interest-rate decision sees flat moves on stocks.
Bitcoin traders sit and wait for an inevitable range breakout.
Data from TradingView showed BTC/USD almost hitting $90,500 before giving up its gains, dipping to $88,800.
US markets opened flat on the day ahead of a new decision on interest-rate changes from the Federal Reserve.
As Cointelegraph reported, expectations were for no adjustments to take place at the Federal Open Market Committee (FOMC) meeting. The accompanying speech and press conference by Chair Jerome Powell was of more interest.
“Fireworks, that's what we can expect,” crypto trader, analyst and entrepreneur Michaël van de Poppe forecast in an X post on Wednesday.
Gold offered a potential taste of things to come, hitting new record highs above $5,300 per ounce during Asia’s trading session.
Source: CoinTelegraph
