Cryptocurrency Markets Dip After Federal Reserve Holds Rates

Cryptocurrency markets experienced volatility around the Federal Reserve's decision to keep interest rates unchanged at 4.5%, with major coins like Bitcoin and Ethereum dipping shortly after the announcement. Despite the short-term pullback, several traders see underlying bullish patterns forming in Bitcoin, such as consolidation phases and bullish pennants, suggesting potential breakouts in the near term. Ethereum continues to draw fresh inflows and maintains strong support levels, with analysts anticipating further upside but cautioning about possible sharp corrections near key resistance points. Retail traders have increased short positions ahead of the FOMC meeting, leading to significant liquidations amounting to hundreds of millions of dollars, highlighting the market's sensitivity to macroeconomic events. Meanwhile, altcoins like Dogecoin show signs of resilience with bullish divergences, while the broader crypto market remains cautious as it approaches critical resistance levels. Overall, the market is navigating a complex environment of consolidation, profit-taking by whales, and heightened anticipation of upcoming economic data and policy decisions.