Bitcoin Trapped Below $82K as Traders Eye Fed Rate Decision

Bitcoin is feeling a bit of friction as the market waits for the Federal Reserve to make its next move. Over the last 24 hours, the leading cryptocurrency slipped about 0.8%, trading near $79,176.

Analysts believe this sideways movement is here to stay for a little while. They expect Bitcoin to stay boxed in between $78,000 and $82,000. It seems traders are reluctant to make any massive bets before the Fed drops its September interest rate decision.

The $82,000 level is acting as a tough ceiling for now. Until macroeconomic clarity arrives, we can likely expect more of this quiet, range bound trading. Keep a close eye on those key support levels as September approaches.