Bitcoin hits three-week high as investors price in 99% chance of Fed rate hold

- Volatile trading in the crypto market extended for a second day as the September Federal Open Market Committee meeting got underway, with investors now pricing in a 99% chance that the Fed will hold rates steady at their current level according to the CME FedWatch Tool.

At the close of markets, the S&P, Dow, and Nasdaq all finished in the red, down 0.22%, 0.31%, and 0.23%, respectively. According to MN Trading founder Michaël van de Poppe, the fact that BTC was able to hold support at $26,000 is a good sign that it could soon climb higher.This is strong and looks like we've got a continuation of the uptrend here.— Michaël van de Poppe September 19, 2023 But market analyst Rekt Capital still sees a fractal formation on the Bitcoin chart that indicates it will soon head lower, even if it first manages to rally “as high as ~$29,000 before additional downside.

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