$118K BTC Calm Before FOMC, BONK Price Dives

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BONK has plunged by 13% daily, followed by TIA and SPX.

Bitcoin’s price actions have calmed in the past several hours around the $118,000 mark, perhaps in anticipation of the FOMC meeting scheduled to take place later today.

Most altcoins are in the red today, led by substantial losses from some larger caps like SUI, HBAR, AVAX, ENA, TAO, and ICP.

BTC Anticipates FOMC Meeting
The primary cryptocurrency nosedived at the end of the previous business week, dropping from over $119,500 to a 14-day low of $114,500 within hours as Galaxy Digital was selling off 80,000 BTC for a third party. The asset bounced during the weekend and returned above $117,000 as the sale was completed.

It started the new week on the right foot, surging to $120,000. However, as it has happened after each such breakout attempt for the last two weeks, the bears quickly reemerged and didn’t allow a more decisive surge toward BTC’s all-time high.

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