Bitcoin Takes a Cautionary Tumble Ahead of Fed Meeting

Bitcoin traded near $65,400 on Thursday, July 23, as investors adopted a cautious approach ahead of the US Federal Reserve's upcoming policy meeting.

The world's largest cryptocurrency slipped slightly over the past 24 hours but still held onto weekly gains.

Market participants also reacted to Alphabet's latest earnings, where higher-than-expected artificial intelligence investment plans boosted optimism for technology stocks but failed to spark fresh momentum in the cryptocurrency market.

Despite inflation concerns resurfacing and major economic events approaching, traders are closely watching what could be the next catalyst for Bitcoin's price movement.