Bitcoin (BTC) Cryptocurrency Markets Are Trending Lower

Cryptocurrency markets are trending lower on Tuesday as investors brace for tomorrow's FOMC meeting.

Cryptocurrency prices are trading lower on Tuesday. The FOMC meeting tomorrow could bring some volatility to the market.

Notable Statistics:

* Bitcoin is down 1.2% in the past 24 hours and trades at $81,444.6.

* Ethereum is down 0.8% in the past 24 hours and trades at $2,704.1.

* The total cryptocurrency market cap is down 0.6% in the past 24 hours and trades at $3.43 trillion.

Notable Developments:

* Stockmoney Lizards, a trader, sees the current dip as a normal correction in a bull market and cautions traders not to be misled. He expects BTC to break $108,000 within weeks or months.

* CrediBULL Crypto notes Bitcoin is ranging between support and resistance, while forming a higher timeframe bottom, with price action remaining choppy as it awaits a breakout.

* Crypto trader Roman highlights that BTC's 4-hour chart aligns with his plan to see $70,000 tested as weekly support before any short-term upside.

He warns a drop below $80,000 could lead to a swift decline and believes the market is waiting on the FOMC for direction.

* Crypto Raven points to a gap between Bitcoin's price and Global M2 growth, historically a correlated metric. He sees this as a sign BTC is due for a catch-up rally toward at least $100,000, stating, "The bull market is far from over."

Top Losers (24 Hour):

1. Frax Share (FXS) - Down 7.1%

2. Optimism (OP) - Down 6.3%

3. Aave (AAVE) - Down 5.4%

4. Cardano (ADA) - Down 4.9%

5. Chainlink (LINK) - Down 4.8%

Trader Notes:

Stockmoney Lizards: "Ongoing correction in a bull market. Don't get fooled. We will break the 108k ATH within a couple of weeks / few months."

CrediBULL Crypto: "Still ranging between key levels (S&R). Choppy price action continues as we await a breakout. Zooming out, we’re still forming a higher timeframe bottom."

Crypto trader Roman: "My plan on the 4H chart. Expecting 70K to be tested as weekly support before any SHORTS TERM upside. A drop below 80K will lead to a swift decline. Overall, we're in a holding pattern ahead of the FOMC."

Crypto Raven: "These two charts are of Global Monetary Supply M2 vs BTC price. They are usually proportionally related. But in the recent times, we see a gap. BTC price hasn't caught up to it. This indicates we are due for a $BTC price rush and that could be at least to 100K. Bull market is..."