Bitcoin momentum loss is pre-FOMC derisking, not a trend change – MAXBIT

Traders cut risk ahead of Wednesday’s Federal Reserve decision on interest rates, and a long-awaited crypto policy report from the White House.

Key points: 

Bitcoin’s price compression and the Bollinger Bands suggest a range expansion will occur soon. 

This week’s early price weakness is likely the result of traders cutting risk ahead of Wednesday’s FOMC and a White House update on its crypto policy and Bitcoin strategic reserve.

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