Bitcoin Trades Near $74,230 Ahead of FOMC Decision and Powell Comments

Bitcoin is trading around $74,230, roughly 2.6% below the six-week high of $76,000 reached on Tuesday, market sources cited by ChainCatcher show. Market participants broadly expect the Federal Reserve to leave interest rates unchanged at this week's FOMC meeting, with traders viewing Chair Jerome Powell's post-meeting comments as the main trigger for potential volatility. Additional factors that could drive price swings include U.S. developments linked to the Israel-Iran situation, persistent inflation worries, and higher oil prices. On the technical side, Bitcoin needs to firmly clear the $76,000 resistance and establish it as support to target the $80,000+ zone and the 200-day simple moving average at $87,411, while a loss of bullish momentum could see a pullback toward the $72,000–$65,000 range or a test of $60,000.