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Bitcoin experiences selling pressure near 105,000 USD ahead of FOMC meeting

Bitcoin’s market behavior before FOMC: On December 18, Bitcoin (BTC) is trading below 105,000 USD, reflecting typical selling pressure as traders prepare for the Federal Reserve’s interest rate decision, anticipated to occur at 2:30 PM ET.

Market sentiment and interest rate expectations: Traders are focused on the Federal Reserve’s expected 0.25% interest rate cut. However, inflation concerns could lead to subsequent rate hikes in 2025, creating mixed sentiment in the market.

Unfilled gap in Bitcoin futures market: Market analysts have noted a potential unfilled gap around 102,000 USD in CME Group’s Bitcoin futures. Traders are keenly watching this level, anticipating BTC/USD might test this before or during the FOMC event.

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