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Bitcoin Holds $113K as Liquidity Thins, Traders Turn Defensive Before Fed Week
Bitcoin hovered near $113,000 in Asian afternoon hours Wednesday as traders positioned cautiously ahead of this week’s Federal Reserve policy decision, with fading liquidity and a stronger dollar weighing on sentiment across risk markets.
The world’s largest cryptocurrency remained up 4.5% over the past week but slipped 0.7% in the past 24 hours, mirroring modest losses across major tokens. Ether traded at $4,028, down 1.4%, while Solana’s SOL and a certain platform’s token each declined about 2%. XRP held slightly higher near $2.62, extending a strong seven-day run as traders rotated into high-volume tokens.
The moves come ahead of a pivotal Federal Open Market Committee (FOMC) meeting on Oct. 28–29, where officials are widely expected to cut benchmark rates by 25 basis points to the 4.00%–4.25% range.