– Bitcoin’s price dropped over $1,000 following the Federal Reserve interest rate announcement.
– Analysis warned of “overheated” derivatives in the Bitcoin market.
– BTC erased gains it made overnight and fell below $35,000.
– The Federal Reserve opted not to change interest rates but expressed concerns about inflation and its impact on the economy.
– Bitcoin derivatives markets were described as overheated, raising concerns among traders.
– Spot markets are now in charge of supporting BTC price strength.
– Analysis cautioned about the liquidity in the Bitcoin trading environment, warning of potential “rug pulls.”
– Support levels at $34,000 and $33,500 were highlighted as important for Bitcoin’s price stability.
