Bitcoin price fell back towards the $77,000 level after facing rejection at the $78K mark as investors remained cautious ahead of the FOMC decision today. Bitcoin ( $BTC ) price faced rejection at around $80,000 on Monday, after which it fell 4% to an intraday low of $75,850 on Tuesday. This came as uncertainty surrounding the opening of the Strait of Hormuz amid stalled peace negotiations between the U.S. and Iran continues to keep investors in risk-off mode. While investors bought the dip, helping push Bitcoin back to $77,800, it fell short of surpassing the $80K figure as investors entered a wait-and-watch mode ahead of the Fed rate decision set to be announced later today. Both the CME FedWatch tool and predictions platform Polymarket showed that the odds of the Federal Reserve keeping the interest rates at 3.5% to 3.75% stood at 100%, reflecting a total consensus among market participants. While the markets had already priced in no rate cuts for April, the ongoing hawkish stance from central bankers has dulled their appetite for Bitcoin and the broader crypto market as a whole, as borrowing costs remain elevated. Looking ahead, the next key milestone for Bitcoin is the Core PCE data set to be revealed tomorrow. As the Fed’s preferred inflation gauge, this data will be crucial for determining if price pressures are cooling. Early estimates suggest that any surprise in this report could lead to significant volatility across all risk assets. Despite the short-term dip, some analysts suggest that the current retracement in Bitcoin is typical behavior ahead of major monetary policy announcements. They believe that Bitcoin could still be in a phase of strong market conditions, suggesting that the current consolidation phase may give way to renewed strength once macro clarity emerges. $BTC $ETH $SOL #FedApril4Dissents #USIranLongTermBlockade #KelpDAO71MUnfreeze