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Bitcoin ($BTC) and major cryptocurrencies pulled back approximately 2% as investors held their breath ahead of a Federal Reserve interest rate decision, with ETF flows — the metric the market has leaned on to gauge institutional conviction — arriving mixed and offering little reassurance.
Fed Uncertainty Does the Work the Bears Couldn't Crypto markets have learned, across multiple cycles, that monetary policy ambiguity is its own form of pressure.
You don't need a hawkish surprise to sell; the wait itself is enough. With the Fed decision pending, the rational trade for anyone running risk is to trim exposure rather than add it.
That is what the 2% move across the board reflects — not a collapse in thesis, but a collective pause, the market collectively pulling its hand back from the stove before it knows if the burner is on.
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