Bitcoin retraces $80k ahead of today's Fed decision.
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Bitcoin moved back towards $81,000 after briefly dipping below $79,000 over the weekend.
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BTC gained nearly 2% during Asian trading as markets settled in for today's Federal Reserve decision.
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The Fed is expected to keep rates steady.
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The bigger question is what comes next.
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Markets will be listening closely for any signal that another rate hike may be coming in December.
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In the meantime:
The 10-year yield in the US is around 5.0%.
The dollar remains close to a two-week high.
Technology stocks rose strongly on Tuesday.
Bitcoin is trying to rebuild momentum above $80K.
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Galaxy Research also held a noteworthy conversation this week.
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The company believes that the Bitcoin bear market ended around the June low below $58k and that BTC has entered an accumulation phase.
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important:.
It's galaxy analysis. Not confirmation that Bitcoin can't make another big low.
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The technical level to watch remains at $82,500.
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A daily close above this zone will strengthen the case that buyers are back in control.
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Beneath it, Bitcoin is still recovering.
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Above it, the structure starts to look much more interesting.
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