Crypto market trades sideways after Fed signals more rate hikes

- “Boring” is the word many crypto enthusiasts are using to describe the current market conditions as cryptocurrencies continued to trade sideways for another day on Wednesday after the Federal Reserve announced that it would leave interest rates unchanged for the time being.

When it was all said and done, the S&P and Nasdaq finished in the green, up 0.08% and 0.39%, respectively, while the Dow was unable to overcome the negative sentiment and closed down 0.68%. Prior to the FOMC announcement, MN Trading founder Michaël van de Poppe noted that $26,400 remained a crucial resistance level for Bitcoin and said yesterday’s failure to overcome that level would likely result in a pullback to the $24,500 - $25,000 region.

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Bitcoin clings to $26k as the broader crypto market shows weaknessBitcoin struggles to hold $26,000 while altcoins drift lower as traders await this week’s CPI and interest rate announcements before reentering the market.
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