Bitcoin Slips Under $64K As Traders Await Fed Decision

Bitcoin slid under the $64,000 mark on Tuesday. Traders are reducing their risk exposure as they wait for the latest interest rate decision from the Federal Reserve. Selling pressure picked up across the market during the morning hours.

Alongside the macroeconomic caution, exchange traded fund outflows and liquidated long positions added extra weight to the price action. The leading cryptocurrency also dropped below a key rising trendline, which caught the attention of short term traders watching chart support levels.

Market participants are staying cautious while waiting for the central bank announcement. Traders should keep an eye on broader market volatility and liquidity levels over the next twenty four hours as the news hits.