Cryptocurrency

Market Wrap: Bitcoin Bounces After Fed Decision; Analysts Expect Sideways Trading

Bitcoin is up about 3% over the past 24 hours, compared to a 4% rise in ether and a 14% rise in Solana’s SOL token.

Momentum is also stabilizing after several weeks of low trading volume.

Analysts are cautious about crypto prices as risk appetite wanes.

The tight price range could persist into the Asia trading day.

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Bullish sentiment continues to fade ahead of tomorrow’s U.S. Federal Reserve meeting.

A breakdown could damage the intermediate-term trend despite oversold signals.

The consumer price index surged to 6.8% in November, but traders may hold off on investing in risky assets the rest of the year.

Investors could start to rotate into bitcoin, indicating lower appetite for risk.

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