Investors are uncertain about the future of Bitcoin due to its current sideways price action. The upcoming interest rate hike by the Federal Reserve could pose a challenge for the cryptocurrency market, as higher interest rates make traditional investments more attractive, potentially reducing demand for Bitcoin and other cryptocurrencies. However, Bitcoin is often seen as a hedge against inflation, which may still appeal to investors during times of economic uncertainty. Despite the lack of clarity in the market, existing crypto holders are not selling their holdings, indicating a period of caution rather than bearish sentiment.
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