Bitcoin (BTC) steadies above $116,000 at the time of writing on Wednesday, with traders bracing for heightened volatility following the Federal Reserve’s (Fed) rate cut decision later today. While a breakout toward $120,000 remains in play, on-chain data suggests uneven sentiment across the cryptocurrency market, increasing the risk of a sell-the-news reaction.
Solana (SOL) edges lower toward the $230 short-term support at the time of writing as investors look forward to the United States (US) Federal Reserve (Fed) interest rate decision later on Wednesday.
Bitcoin (BTC) exhibits subtle bullish potential, trading marginally below $117,000 at the time of writing after pulling back from an intraday high of $117,286. The uptick in price can be attributed to several factors, including steady United States (US) Exchange Traded Funds (ETF) inflows and growing optimism that the Federal Reserve (Fed) could deliver an interest rate cut later on Wednesday.
