Bitcoin's Volatility Rises Ahead of 'Challenging' FOMC Meeting as $93.5K Annual Opening Price Falls Short

Bitcoin Price Movement: Bitcoin (BTC) experienced a decline after failing to maintain its recent high of $94,650, trading around $92,000 as traders anticipated volatile price movements ahead of the Federal Reserve's interest-rate announcement.

Market Sentiment: Traders expressed caution, noting that FOMC meetings often lead to unpredictable price action, with liquidity clusters forming around the $90K and $95K levels as the market consolidates.

Focus on Federal Reserve: The market is closely watching the Federal Open Market Committee's (FOMC) decision, with expectations of a 0.25% rate cut, while the tone of Fed Chair Jerome Powell during the press conference is seen as crucial for future market direction.

Japanese Market Influence: Following the FOMC reaction, traders are expected to shift their focus to Japan, where rising bond yields and potential interest rate changes by the Bank of Japan could introduce further volatility in the crypto market.