Bitcoin Faces Resistance at 50-Day Moving Average Ahead of FOMC

Bitcoin failed to sustain its recent rally and encountered resistance at the 50-day simple moving average. The price pulled back after reaching the 81,700 dollar level and hovered around 80,297 dollars on the Bitstamp platform.

This movement occurs during a period of caution across global financial markets. Investors are waiting for the interest rate decision from the United States Federal Open Market Committee. Expectations point toward maintaining the current range between 3.75% and 4%.

Analysts note that the primary focus remains on statements from Federal Reserve chair Kevin Warsh. The tone adopted by the official could alter projections for the monetary adjustment expected at the December meeting. The market is also evaluating the impact of corporate earnings from the technology sector.

Market information suggests that the outcome of the United States midterm elections is not yet fully reflected in current prices. Data from the Glassnode platform highlights that buy order liquidity below 80,000 dollars suggests a potential shift in the asset's support dynamics in the short term.

Uncertainty regarding American monetary policy and the performance of tech companies are increasing Bitcoin volatility and pressuring the appetite for risk assets in the global market.