Currently, Bitcoin (BTC) is consolidating around 109,000 USD after a slight correction. On-chain data indicates that profit-taking activities have reached a three-month high, reflecting increased selling pressure among holders.
The release of the FOMC Minutes may create market volatility as traders keep an eye on potential interest rate signals. Current sentiment remains mixed as institutional demand for Bitcoin persists despite increased market uncertainty.
Momentum indicators show that the BTC market displays early signs of weakness. The Relative Strength Index (RSI) suggests a potential decline, indicating that BTC could test support levels if it fails to maintain its current price.
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