Bitcoin FOMO trickles back at $94K, but Fed could spoil the party

Bitcoin surged to $94,625, a three-week high, driven by a resurgence of positive social sentiment and trader FOMO expecting further gains. However, this rally is precarious as the market awaits the Federal Reserve's interest rate decision on Wednesday, where an 88.6% probability exists for a 0.25% cut. Analysts caution that any hesitation from the Fed regarding future rate cuts or economic stimulus could be bearish for Bitcoin, potentially leading to a price drop similar to a previous instance. Furthermore, some long-term investors suggest the recent spike was not organic but rather an engineered pump by large players to create FOMO and offload assets at better prices, noting the move was short-lived and lacked continuation.

(Source：Cointelegraph)