All Eyes on Fed Reserve Rate Announcement, as Bitcoin Fights for $11K

By Omkar Godbole

While bitcoin’s dips have found buyers, the cryptocurrency is struggling to clear the important psychological hurdle of $11,000 ahead of the U.S. Federal Reserve’s rate decision due later Wednesday.

  • The cryptocurrency found bids near $10,675 during the early Asian trading hours, but faced rejection near $10,940 around 08:00 UTC, according to CoinDesk’s Bitcoin Price Index.
  • Bitcoin has failed twice in the past 24 hours to absorb selling pressure just below $11,000.
  • At press time, bitcoin is changing hands near $10,850, representing a 0.58% gain on the day.

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