Trader Identifies FUD in the Crypto Market Ahead of FOMC Meeting

• Michael van de Poppe notes contradicting behavior between Bitcoin and altcoins.
• Altcoins are “bleeding”, while Bitcoin is consolidating around the highs.
• Michael advised followers to look out for opportunities after the FOMC meeting.

The renowned Bitcoin trader and founder of Eight Global, Michael van de Poppe, has tweeted about the current reactions seen among cryptocurrencies ahead of the FOMC meeting slated for tomorrow, March 22, 2023. Michael identified the reactions as irregular and chose to stay relatively calm in positions, as he told his Twitter followers.

#Altcoins bleeding, while #Bitcoin is still consolidating around the highs.

Not the signs you'd want to see. Money rotating from altcoins towards #Bitcoin amid fears for tomorrow's FOMC meeting.

I'd stay relatively calm on positions as well. Obvious opportunities will arise.

— Michaël van de Poppe (@CryptoMichNL) March 21, 2023

Michael noted that altcoins are “bleeding”, a term popularly used to denote significant losses in the crypto market over short periods, while Bitcoin is still consolidating around the highs. He interpreted the scenario as “money rotating from altcoins towards …

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