Bitcoin Decline Alert, Gold Rise Does Not Escape Attention

Bitcoin Price Fluctuates Around $89,100

Bitcoin is trading around $89,100 following the Federal Reserve's decision to keep interest rates steady. However, despite modest gains in other cryptocurrencies like Ethereum, Solana, BNB, and Dogecoin, trading activity has been quite stagnant.

Sharp Rebound in the Forex Market

A sharp rebound in the U.S. dollar and the ongoing strength of gold at record levels, along with rising silver and copper prices, have overshadowed the crypto markets. Analysts note that Bitcoin is being traded as a high beta risk asset and is drifting away from being a macro hedge.

Currently, Bitcoin is in a declining consolidation phase, approximately 30% below its peak in October, and is struggling to break through the significant resistance level at $89,000.