Crypto Market Sees Mixed Results Ahead of FOMC Meeting

The Federal Open Market Committee (FOMC) meeting is currently underway, but the cryptocurrency market appears to be largely unaffected by its proceedings. The FOMC's decision on interest rate cuts has been priced in by traders, resulting in significant liquidations of $218 million.

Bitcoin's price continues to maintain a bullish structure, with a rising channel in place since February. This is evident from the CMF and RSI indicators, which are both trending upwards. Analysts predict that Bitcoin may reach $90,000 if it breaks above the upper line of this channel.

Ethereum has been leading the market gains today, with a 2% intraday increase. Funding rates on Coinglass have increased to their highest point in three weeks, indicating a shift towards bullish sentiment among traders.