Bitcoin continues its upward trend, but Wednesday's Fed meeting seems likely to be a major hurdle. Many in the market are expecting a dovish policy announcement, but the market could change significantly depending on what kind of decision is actually made.

Looking at recent Bitcoin movements, uncertainty regarding interest rates has been influencing price fluctuations. If a dovish signal is given, there will likely be increased buying pressure on risk assets, but conversely, if hawkish comments are made, a sharp decline could occur. The overall market sentiment may shift depending on the outcome of the Fed meeting, whether the current rally continues or a correction begins.

Because expectations for dovish policies are rising, close attention is needed on the current Bitcoin market. Until the meeting results are announced, many traders are probably waiting and watching.