Bitcoin Bounces at Support, Will Fed Meeting Break Its Slumber?

07/21 19:30

Bitcoin, the world's largest cryptocurrency by market capitalization, has rebounded from support at $29,500 and is currently trading just above $30,000. The cryptocurrency has been testing key short-term support levels in the mid-$29,000s multiple times this week, with the bulls holding firm for now. Bitcoin has been rangebound between $29,500 and $30,500 for almost a week, with a lack of notable US macro events and updates on US crypto regulation/institutional adoption. The upcoming US Federal Reserve meeting next week, where interest rates are expected to be lifted, could trigger some breakouts in the bitcoin market.

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