Bitcoin is trading below $65,000 as markets brace for Kevin Warsh's first Federal Open Market Committee meeting as Fed Chair, with policymakers widely expected to hold interest rates steady. The cautious backdrop is compounded by inflation remaining near a three-year high, limiting the Fed's room to ease monetary policy. Warsh, known for his hawkish leanings, faces his first major test managing market expectations in an environment where any signal of prolonged tightening could weigh on risk assets including crypto. Additional pressure on Bitcoin stems from lingering concerns around Strategy, the bitcoin-heavy corporate treasury firm formerly known as MicroStrategy. Together, these macro and institutional factors are keeping BTC range-bound as traders await clearer direction from both the Fed and broader market sentiment.
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