Bitcoin Rejected at 50-Day SMA as FOMC and Big Tech Earnings Loom

Bitcoin's latest recovery attempt stalled at its 50-day simple moving average, a technical level that has acted as resistance in recent sessions. The rejection occurred as traders held back ahead of the Federal Open Market Committee (FOMC) meeting, where policymakers are expected to signal the path for interest rates. With inflation still above target, any hawkish tone could pressure risk assets, including cryptocurrencies. Meanwhile, earnings from major technology companies are also on the radar, as their performance often influences broader market sentiment and liquidity flows into digital assets. The convergence of these macro events has left Bitcoin in a holding pattern, with volume thinning and volatility compressing. For now, the 50-day SMA remains the key hurdle; a decisive break above it could invite momentum buyers, while failure to do so may lead to a retest of lower support levels. Traders are watching the FOMC statement and press conference closely for clues on the timing of any policy shift. The next few days could set the tone for Bitcoin's short-term direction, as macro forces overshadow crypto-specific developments.