Bitcoin BTC, the largest cryptocurrency, has gained less than 0.5% since midnight UTC and is expected to face resistance to $80,000. This comes as the largest cryptocurrencies in the world have gained less of 0.3% since the previous day. Luke Deans, a senior research associate at Bitwise, said that strong moves towards $80k are likely to face opposition due to short-term holders' cost basis around that price. The Federal Reserve's decision to maintain the current federal funds rate is also affecting the market, with four dissenting voices, the most since 1992. Over $500 million in leveraged bets have been liquidated by exchanges, indicating a sign of risk aversion. Market-wide futures open interest (OI) has dropped over 2% to $119 billion in 24 hours, but trading volumes have increased 26% to increase by 26%. The 30-day implied volatility index, BVIV, has dropped to 41%, indicating potential for further price declines.