Bitcoin pauses ahead of rate decision, hovers around $73,000 [Crypto Briefing]

[The Financial News] Bitcoin slipped to around $73,000 on the 18th. The move suggests the market is taking a breather ahead of the Federal Reserve System (Fed)'s policy rate announcement.
According to global crypto data platform CoinMarketCap, Bitcoin was trading around $73,000 as of 10 a.m. that day, down 1.95% over the previous 24 hours. Over the past week, Bitcoin has risen 5.47%.
In the Korean won market, Bitcoin was trading around 109 million won. Based on data from global crypto market comparison platform Cryprice, the Korea premium stood at -0.62%.
Markets are focused on the Fed's rate path. The Fed is scheduled to hold a Federal Open Market Committee (FOMC) meeting on the 17th and 18th (local time) and announce its policy rate decision. With oil prices climbing on tensions in the Middle East, most observers expect rates to be kept on hold.
Kim Ho-jung, a researcher at Yuanta Securities Korea, said, "The Fed is expected to leave its policy rate unchanged," adding, "However, the key issue at this meeting is not the rate decision itself, but how the Fed interprets the recent oil price shock. The extent to which it revises up its inflation outlook will be a crucial factor in determining market direction."
The Crypto Fear and Greed Index provided by CoinMarketCap stood at 43 that day, indicating a 'neutral' market mood. The index ranges from 0 to 100, with readings near 0 signaling 'extreme fear' and those near 100 interpreted as 'extreme greed.'
At the same time, Ethereum was trading around $2,327, down 1.31% from the previous day. Ripple was at about $1.51, a decline of 1.81%.

yimsh0214@fnnews.com Im Sang-hyuk Reporter