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<ul> 
 <li>Bitcoin stabilized around $26,500 after hitting its monthly high.</li> 
 <li>Traders observed strong bid support, hinting at resistance to selling pressure.</li> 
 <li>The FOMC meeting on September 20 may bring BTC volatility, but it’s expected to trade between $25k to $27k.</li> 
</ul> 
<p>In a weekend characterized by relative calm, Bitcoin (BTC) exhibited remarkable resilience, stabilizing around the $26,500 mark after recently hitting its monthly high of $26,880. This surge marked the highest level of the month and had many traders and investors closely monitoring the cryptocurrency market.</p> 
<p>Traders have taken note of the strong bid support that seems to be anchoring Bitcoin’s price. Credible Crypto, a famous trader and analyst, pointed out a cluster of bid liquidity that appeared to be providing a solid defense against selling pressure. This observation underscores the conviction among many market participants that Bitcoin’s current levels are well-supported.</p> 
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   <p lang="en" dir="ltr">Some seller absorption happening here- this level being defended atm. Not much below it so if lost would probs see a nice flush to downside targets. Been fun watching this but going to call it a night. Let's see what tomorrow brings. Hopefully a slow weekend so we can just chill… <a href="https://t.co/NFD7qcfAnC" rel="noopener noreferrer nofollow">https://t.co/NFD7qcfAnC</a> <a href="https://t.co/4gWXpEDfsX" rel="noopener noreferrer nofollow">pic.twitter.com/4gWXpEDfsX</a></p>— CrediBULL Crypto (@CredibleCrypto) <a href="https://twitter.com/CredibleCrypto/status/1702964105416777962?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 16, 2023</a> 
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<p>As the crypto community observes this stability, their attention now turns to a critical macroeconomic event on the horizon. The United States Federal Reserve is set to convene the Federal Open Market Committee (FOMC) meeting on September 20, where decisions regarding benchmark interest rates will be made. Although market expectations lean heavily towards no changes, there is a lingering anticipation of potential volatility.</p> 
<p>Market analysts are divided on the impact of the FOMC meeting on Bitcoin’s price. While some foresee the meeting inducing volatility, others, like <a href="https://twitter.com/Blockchainsanta/status/1703043342001701258" rel="noopener noreferrer nofollow">Crypto Santa</a> believe that Bitcoin will likely continue to trade within the range of $25,000 to $27,000 in the short term.</p> 
<p>With CME Group’s <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow">FedWatch Tool</a> placing the odds of a surprise scenario at just 2%, the prevailing sentiment suggests that Bitcoin’s current stability may persist in the days leading up to and following the FOMC meeting.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/markets-soar-as-fomc-decision-boosts-confidence/" rel="noopener noreferrer nofollow">Markets Soar as FOMC Decision Boosts Confidence</a></li> 
 <li><a href="https://cryptonewsland.com/traders-are-shifting-attention-to-the-fomc-decisions/" rel="noopener noreferrer nofollow">Traders are Shifting Attention to the FOMC Decisions</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-rises-to-26k-may-approach-29k-soon/" rel="noopener noreferrer nofollow">Bitcoin Rises to $26K, May Approach $29K Soon</a></li> 
 <li><a href="https://cryptonewsland.com/increased-risk-sentiment-might-prompt-bitcoins-sell-off/" rel="noopener noreferrer nofollow">Increased Risk Sentiment Might Prompt Bitcoin’s Sell Off</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-btc-reserves-steadily-drops-in-exchanges/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Reserves Steadily Drops in Exchanges</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/bitcoin-holds-steady-at-over-26k-ahead-of-fomc-meeting/">Bitcoin Holds Steady at Over $26K Ahead of FOMC Meeting</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin Holds Steady at Over $26K Ahead of FOMC Meeting

Crypto News Land

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