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Following its decline below $29,000 for the first time in a month on Monday, bitcoin (BTC) was trading at $29,100 early Tuesday. The bearish price action comes ahead of the Federal Reserve’s expected 25 basis point interest rate hike on Wednesday afternoon. With investors fully anticipating the move, Mike Schwitalla, head of trading at Crypto Finance AG, will be looking to see if market participants receive the actual decision as hawkish. Should slight selloffs ensue in risk markets, he’s looking at support zones for bitcoin around $28,000, $26,000, and $25,000.
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