BTC Consolidates, Ahead of Pivotal FOMC Meeting – Market Updates Bitcoin News


Bitcoin consolidated recent gains on March 21, as markets await the upcoming Federal Open Market Committee (FOMC) meeting. Many expect that the Federal Reserve will maintain rate hikes, however at a slower pace of 25 basis points. This comes after the U.S. announced it will explore measures to guarantee client deposits at embattled banks following a recent crisis.


Bitcoin (BTC) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting.

Following a high of $28,352.76 to start the week, BTC/USD fell to an intraday low of $27,439.65 earlier today.

The move sees bitcoin move away from its recent nine-month high, ahead of tomorrow’s rate decision, which will likely lead to increased market volatility.

BTC/USD – Daily Chart

One sign of this uncertainty comes as the 14-day relative strength index (RSI), which failed to move beyond a ceiling of its own.

As of writing, the index is tracking at 71.47, which is marginally below a resistance level at 72.00.

BTC has since risen back above $28,000 however, with price swings…

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