Bitcoin Price Analysis: BTC Wipes Pre-FOMC Gains, Markets Remain Greedy

Bitcoin Price Analysis: BTC Loses Pre-FOMC Gains, Traders’ Appetite Remains Insatiable

Bitcoin’s price witnessed a sudden surge on June 12, triggered by a letter sent by Senator Elizabeth Warren to Federal regulators urging a rate cut. However, the excitement was short-lived as the Federal Open Market Committee’s (FOMC) press release confirmed that interest rates would stay unchanged. Consequently, Bitcoin’s price swiftly retreated to its previous levels before the FOMC announcement. This rollercoaster ride in the crypto market highlights the unwavering hunger for profits among traders, constantly seeking opportunities to capitalize on price movements.