Bitcoin's price has dropped below the key 200-WMA level due to whales and miners selling their holdings, following the US Federal Reserve's decision to raise rates. The price remains range-bound between 26,500-27,500, with Fed officials hinting at hawkish views on interest rate hikes.
The probability of a 25 bps rate hike in June has increased to over 45%, according to CME FedWatch. Stay informed on Bitcoin's on-chain metrics and whale activity, as well as any statements from Federal Reserve Chairman Jerome Powell, to keep up with the rapidly evolving crypto market and potential profits.
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