Bitcoin and the major altcoins have bounced off their immediate support levels, paving the way for a possible relief rally in the short term.
The United States equity markets are attempting a recovery after weeks of relentless selling.
As the broader market crumbled all the way down to the $1.6T-mark at press time, the long-term HODLers have been trying to stall the boosted sell-off situation.
Bitcoin and most altcoins could remain volatile in the short-term due to the Fed’s decision, warranting caution from traders.
Investors across the world are waiting for the outcome of the Federal Open Market Committee meeting on May 4.
In its constant endeavor to break the constraints of its 4-hour 50 EMA, Bitcoin has been on a bumpy ride whilst failing to improve the broader sentiment.