Bitcoin price bounce rejected at 50-day trend line ahead of FOMC, earnings

Bitcoin (BTC) gave back early gains around Wednesday’s Wall Street open as markets prepared for the US Federal Reserve’s interest-rate decision.Key points:Bitcoin fell around 0.3% on Wednesday after upside volatility failed to sustain past $81,687.US stock markets tracked sideways into the run-up to the Federal Open Market Committee’s (FOMC) interest-rate decision and press conference after South Korea’s KOSPI gained 6.6%.BTC/USD stalled below its 50-day simple moving average at $81,831, which acted as local resistance.US stocks tread water as focus turns to Fed chair WarshData from TradingView showed BTC/USD failing to break beyond $81,700, instead reversing to as low as $80,297 on Bitstamp. At the time of writing, the pair was down 0.3% on the day.US stocks opened flat ahead of the Federal Open Market Committee (FOMC) meeting statement and press conference from Fed chair Kevin Warsh. Markets overwhelmingly expected officials to hold rates in their current 3.75-4% range, with the focus instead on Warsh’s language and comments on the economy.Data from CME Group’s FedWatch Tool showed 90.6% odds of a pause at Wednesday’s FOMC, while the outcome for the December meeting remained a 0....