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Bitcoin price stabilizes at $26.5K ahead of crucial week for Federal Reserve and inflation

Bitcoin price stabilizes at $26.5K ahead of crucial week for Federal Reserve and inflation

Bitcoin and the cryptocurrency market are preparing for the Federal Open Market Committee (FOMC) meeting, while Bitcoin’s price remained relatively stable over the weekend. BTC reached a high of $26,880 earlier in the month but has since stabilized around $26,500. Traders noted bid liquidity supporting the market and predicted a potential dip to $26,100 before a bounce. Spot entities were observed selling into bounces, according to exchange behavior analysis. The upcoming FOMC meeting is expected to maintain benchmark interest rates unchanged, with Bitcoin’s reaction to macroeconomic data becoming less volatile recently. Traders anticipate Bitcoin to trade within the range of $25,000 to $27,000 in the short term.

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