Federal Reserve Chair Jerome Powell assures markets that monetary policy will stay loose "as long as it takes."
Bitcoin is falling, as caution ahead of the FOMC rate decision overshadows bullish chart pattern.
“Short-term momentum remains positive, but far less so than in February,” writes one analyst.
Prices settled in the mid-$50,000 range for the most of Tuesday.
Bitcoin could be set for a price rally north of $100,000 this summer under Pantera's model.
The active supply of bitcoin held for shorter periods of time keeps shrinking, according to Arcane Research.
Bitcoin is oversold and at trend support on intraday charts, but still faces heavy resistance around $58,000.
Bitcoin wiped out more excess bullish leverage with a drop below $54,000 early today, and is now looking north.
Investor flows into cryptocurrency investment funds is on track for a record quarter, according to CoinShares.
Very few of today's bond portfolio managers and traders can remember the last inflation shock, but that does not make a new shock less likely.
The decline in institutional investment may be one reason behind bitcoin's failure to hold above $60,000.
Retail-dominated Bybit is now a bigger bitcoin futures exchange than CME.
Profit taking around $60,000 opens the door to lower support around $54,000, causing a bit of whiplash for bitcoin traders.
Miner outflows have slowed since January. The last time this happened, bitcoin went parabolic.
For now, BTC’s uptrend remains intact.