Bitcoin slips at $113K as S&P 500 hits new all-time high into Fed rate move

Bitcoin (BTC) remained under pressure, trading around $113,000 as US stocks, specifically the S&P 500, hit a new all-time high of 6,914 in anticipation of the Federal Reserve's interest-rate decision. Analysts noted that BTC was undergoing an expected "volatile retest," with key levels being $111,000 for support and $114,500 for a successful weekly close confirmation. Range boundaries were identified between $116,000 and $107,000. Meanwhile, markets widely anticipated the Fed would announce a 0.25% rate cut, which is typically positive for risk assets. However, trading resource QCP Capital suggested the FOMC announcement would be a "non-event" because the Fed lacked recent official inflation or labor data to justify any significant policy shift.

(Source：Cointelegraph)