Bitcoin Price Volatility Amid News of Fed Policy Decision

Bitcoin saw a significant dip before rebounding to trade around $64,139, up 2.31% from 24 hours prior. Despite recent drops, it has surged 124% yearly, reaching a high of nearly $73,800. The decline is attributed to drying up demand for U.S. exchange-traded funds and uncertainty over the Fed's policy decision. Investors are eagerly awaiting the big Fed policy decision, with speculation about potential rate cuts and quantitative tightening. Bitcoin's reaction to such key Fed decisions has historically impacted prices, and its response this time remains uncertain.