Is risk-off back? Bitcoin, ether dip ahead of next Fed meeting 

Is risk-off sentiment resurfacing? Bitcoin and ether are experiencing declines ahead of the next Federal Reserve meeting. Bitcoin has dropped below $40,000 for the first time in a month, while ether has fallen around 6% in the past 24 hours. Analysts suggest that the decline in bitcoin may be partly attributed to outflows from Grayscale’s bitcoin trust. Additionally, some believe that the broader decline in cryptocurrency prices indicates a risk-off trend as the Federal Open Markets Committee meeting approaches. The Fed has signaled a potential slowdown in rate cuts, which has led traders to de-risk their portfolios. Meanwhile, stocks have struggled to break out, despite the S&P 500 and Nasdaq Composite closing in the green on Monday. Although there is positive momentum in the market, there is a lack of strong support for equities, making them susceptible to a potentially significant correction triggered by a hawkish comment from the Fed.