🔹 Bitcoin Takes a Breather After Doji Candle in a Cautious Pre-Fed De-Risking
Bitcoin (BTC) is experiencing a pullback after a period of indecision marked by a Doji candle pattern. Following a record high of over $108,000, BTC traded around $103,750, reflecting a 2% decline. This selling pressure is attributed to traders de-risking ahead of the Federal Reserve's anticipated rate cut announcement.
Analysts expect the Fed to signal three rate cuts for 2025, down from an earlier projection of four. The cautious sentiment in the crypto market is fueled by these hawkish expectations, despite the overall trend of easing still being favorable for risk assets. Other cryptocurrencies, such as XRP, SOL, and ETH, are also seeing similar declines, indicating a broader market correction.
