Bitcoin Retreats From Six-Week High Near $76,000 Ahead of FOMC Decision

Bitcoin is trading around $74,230, down roughly 2.6% from the six-week peak of $76,000 reached on Tuesday, as markets await this week's Federal Open Market Committee decision, Cointelegraph reports. The broader market largely expects the Federal Reserve to keep interest rates unchanged, with traders viewing Chair Jerome Powell's post-meeting press conference as the key driver of volatility. On the technical side, Bitcoin needs a decisive break above the $76,000 resistance to aim for the $80,000+ area and the 200-day simple moving average at $87,411, while a loss of bullish momentum could see the price fall back toward the $72,000–$65,000 zone.