Greed

FOMC

Bitcoin

Grayscale Bitcoin Trust

Reserve

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) price continues to remain around $64k ahead of the FOMC meeting that takes place today.</li>
 <li>The recent market volatility was not enough to push the Crypto Fear and Greed Index down.</li>
</ul>
The Fed meeting is set to take place today, and Bitcoin continues to struggle around $64k.
The other day, the world’s largest crypto dropped in price just above $60k just before it was able to rebound. At the moment of writing this article, <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> is trading in the green, and it’s priced just a bit above $64k, 1% up in the past 24 hours.
BTC’s price has been fluctuating around $64k in the past hour.
<figure id="attachment_35920" aria-describedby="caption-attachment-35920" style="width: 100%" class="wp-caption alignnone"><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow" target="_blank"><img fetchpriority="high" decoding="async" class="wp-image-35920 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/03/BTC_1D_graph_coinmarketcap-1.jpg" alt="Bitcoin price chart" width="770" height="475" title="Bitcoin (BTC) Is Struggling To Hold Price Around $64k Ahead Of The FOMC Meeting 2" srcset="https://crypto.ro/en/wp-content/uploads/2024/03/BTC_1D_graph_coinmarketcap-1.jpg 770w, https://crypto.ro/en/wp-content/uploads/2024/03/BTC_1D_graph_coinmarketcap-1-300x185.jpg 300w, https://crypto.ro/en/wp-content/uploads/2024/03/BTC_1D_graph_coinmarketcap-1-768x474.jpg 768w, https://crypto.ro/en/wp-content/uploads/2024/03/BTC_1D_graph_coinmarketcap-1-750x463.jpg 750w" sizes="(max-width: 770px) 100vw, 770px"></a>
 <figcaption id="caption-attachment-35920" class="wp-caption-text">
 Bitcoin price chart
 </figcaption>
</figure>
The other day, BTC saw a high wave of selling pressure right after the daily close, and the coin experienced an 8% price drop.
The strong market volatility was not enough to send the <a href="https://coinmarketcap.com/charts/#fear-and-greed-index" rel="noopener noreferrer nofollow" target="_blank">Crypto Fear and Greed Index</a> into the fear section, and the meter is showing Greed at the moment.
<img decoding="async" src="https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2024/03/Screen-Shot-2024-03-20-at-10.37.11-AM.png@webp" alt="screenshot of coinstats crypto fear and greed index" title="Bitcoin (BTC) Is Struggling To Hold Price Around $64k Ahead Of The FOMC Meeting 3">
Later today, there is another U.S. Federal Open Markets Committee press conference taking place and Jerome Powell, Federal Reserve Chair, is expected to announce whether the interest rates will be adjusted. He’ll also share the committee’s outlook on the U.S. economy.
Also, the US dollar strengthened, and the DXY peaked right above 104.
These are the key factors affecting Bitcoin’s price volatility these days, along with the announcement that Japan’s Central Bank decided to raise rates for the first time since 2007. Not to mention the outflows that <a href="https://crypto.ro/en/analysis/grayscale-could-run-out-of-bitcoin-supply-by-july-following-us-spot-btc-etfs-record-outflow/" rel="noopener noreferrer nofollow">Grayscale Bitcoin Trust (GBTC)</a> marked on March 18, reaching a record of $642 million.
<h2 id="fomc-meetings-trigger-market-volatility">FOMC meetings trigger market volatility</h2>
The Fed’s meetings have a history of triggering volatility in the markets. Crypto investors are hoping that the Fed will decide to make three quarter-point cuts by the end of the year. They hope that the benchmark rate will be brought to a rate of 4.6%.
According to the <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow" target="_blank">CME FedWatch tool</a>, about 99% of investors don’t believe that the Fed will be announcing a cut today.
The FOMC meeting is expected later today, about 5 hours from now.

Bitcoin (BTC) Is Struggling To Hold Price Around $64k Ahead Of The FOMC Meeting

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