$BTC Bitcoin Retreats Amid Fed Rate Decision Anticipation. Bitcoin (BTC) has hit a pause, experiencing notable selling pressure following Tuesday's indecisive price action, which formed a Doji candle on the charts. This candlestick pattern often signals market hesitation and potential trend exhaustion, particularly when appearing at record highs. Traders appear to be de-risking ahead of the Federal Reserve's much-anticipated rate cut announcement, expected to lean hawkish later today.

Currently trading around $103,750, Bitcoin has dipped 2% from its peak, according to TradingView. On Tuesday, BTC surged to a new all-time high above $108,000 before retreating, ending the day flat. The Doji candle highlights the delicate balance between bullish momentum and cautious profit-taking, as investors grapple with the possibility of tighter monetary policy. As the Fed’s decision looms, market participants are watching closely to gauge the impact on Bitcoin's near-term trajectory. Will Bitcoin find renewed strength or face further cooling in the wake of the Fed's stance? The market waits with bated breath.