QCP Capital: Bitcoin technicals remain stable ahead of Fed interest rate decision

QCP Capital reports that while Bitcoin's technical outlook remains steady, market sentiment is heavily dependent on the Federal Reserve's guidance following the upcoming FOMC meeting. Despite higher-than-expected CPI data, the market appears to have priced in a 25-basis-point rate hike. Institutional flows show a divergence, with Bitcoin ETFs seeing net outflows during the holiday week while Ethereum ETFs attracted $216.4 million in inflows on Friday. QCP notes that the Fed's tone regarding future tightening will be the primary driver for crypto market performance this week.