Bitcoin price bounce rejected at 50-day trend line ahead of FOMC, earnings

Bitcoin failed to move past its 50-day simple moving average as market participants awaited the outcome of the FOMC meeting and key tech earnings. Bitcoin (BTC) gave back early gains around Wednesday’s Wall Street open as markets prepared for the US Federal Reserve’s interest-rate decision. Data from TradingView showed BTC/USD failing to break beyond $81,700, instead reversing to as low as $80,297 on Bitstamp. At the time of writing, the pair was down 0.3% on the day. US stocks opened flat ahead of the Federal Open Market Committee (FOMC) meeting statement and press conference from Fed chair Kevin Warsh.