Cryptocurrency Market Enters Consolidation Phase Ahead of US Fed Decision

The cryptocurrency market is experiencing a period of consolidation as investors await key macro triggers. The price of Bitcoin has remained range-bound ahead of the US Federal Reserve's rate decision, which is expected to have a significant impact on the market.

According to market participants, institutional sentiment has softened slightly due to outflows in spot Bitcoin ETFs, signaling cautious positioning. This trend has been observed across various altcoins, with most remaining stable and mirroring Bitcoin's movement.

Analysts believe that if the Federal Reserve maintains a hawkish stance, Bitcoin may move towards the $75,000 support level. The next major trigger will be the April CPI data, which is expected to assess rising energy-driven inflation.