The price action of the main cryptocurrency by market capitalization continues at a pace of increasing volatility, this if we take into account that recently the price dropped to $40,000 and in the last 48 hours has presented a recovery that led it to be located above $43,000.
Now then, the increasing volatility may give good entries for traders who operate short, on the other hand, it should be taken into account that Bel TC remained in a range of around USD 1,000 below the local maximum of the previous day.
According to information released by William Suberg, "Markets were cautious in the hours leading up to the Federal Reserve's decision on changes to the benchmark interest rate, this comes in parallel with a speech and press conference by Chairman Jerome Powell."
On the other hand, and in the words of popular trader Daan Crypto Trades on X (formerly Twitter), "Open interest rises as we have the FOMC later today," specifically referring to the Federal Open Market Committee meeting.
Additionally Daan Crypto Trades posits that, "It often means people will make mincemeat and, as always, we tend to see a decent sized wick to both sides around the event."
SOURCES CONSULTED
Cointelegraph. Bitcoin braces for Fed’s Powell as GBTC outflows creep past $340M. Link
OBSERVATION:
The cover image does not belong to the author: 
, the image was taken from: Cointelegraph
, the image was taken from: Cointelegraph 
