Bitcoin to Remain Choppy as 'Fed Put' Expires: Analysts

Bitcoin to Remain Choppy as 'Fed Put' Expires: Analysts
Bitcoin’s near-term prospects look bleak after the U.S. Federal Reserve set the stage for a more aggressive withdrawal of liquidity, weakening market confidence in the so-called Fed put – a notion that the central bank will come to the rescue if assets tumble.On Wednesday, the Fed pointed to the U.S. economy’s underlying strength and inflation’s stickiness, and reaffirmed plans to end the bond-purchase program in March. It also hinted at a potential interest-rate increase in the same month.Before the event, crypto followers on Twitter were expecting Fed Chairman Powell to sound less hawkish in the wake of the recent stock…