• Bitcoin’s depreciation on the charts wasn’t unexpected to some
• The upcoming FOMC meeting could have an impact on how the crypto reacts until the halving

Bitcoin’s [BTC] losses hit +$10k after dropping from its most recent all-time high of $73.7k to a low of $62.9k, at press time. 

With the U.S FOMC’s (Federal Open Market Committee) meeting coming into focus this week, 99% of polled interest traders expect Fed rates to remain unchanged at 525 – 550 (bps) basis points. A clear Fed communication on when to expect interest rate cuts could be bullish for risky assets like Bitcoin. 

However, while key figures in the industry maintain a long-term bullish position, they’ve been offering differing reasons for the recent retracement.