Bitcoin Falls Below $71,000 After AVWAP Rejection as Fed Holds Rates at 3.5%-3.75%

Bitcoin dropped below $71,000 after failing to hold above an AVWAP resistance level following a brief rally to $76,000, with traders eyeing $69,100 as key support. The rejection triggered a sharp selloff with elevated volumes, while Ethereum, Solana, Dogecoin and the GMCI 30 index each fell 5% to 6%, reflecting broad weakness across large-cap cryptocurrencies. The decline came ahead of the Federal Reserve decision to hold the federal funds rate at 3.5% to 3.75%, an outcome CME FedWatch data showed markets had priced in with over 99% probability. Chair Jerome Powell noted inflation remains elevated and cited rising energy prices tied to Middle East tensions.