Bitcoin Market Sees Slight Pullback Ahead of FOMC Rate Decision

Despite a brief surge reaching $116,000, Bitcoin’s price recently experienced a slight decline, settling around $114,500. Analysts remain optimistic, attributing the pullback to healthy retracement and anticipating further gains following tomorrow’s FOMC rate decision. 25 basis points of rate cut are expected by the US Federal Reserve, potentially driving broader market sentiment higher. This bullish outlook is bolstered by on-chain analysis highlighting key support levels for BTC USD, suggesting continued upward movement if maintained.