{"id":544262,"date":"2023-07-25T12:30:29","date_gmt":"2023-07-25T12:30:29","guid":{"rendered":"https:\/\/ktsl888.com\/?p=544262"},"modified":"2023-07-25T11:41:17","modified_gmt":"2023-07-25T11:41:17","slug":"countdown-fomc-bitcoin-crypto-must-brace-for","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/countdown-fomc-bitcoin-crypto-must-brace-for\/","title":{"rendered":"Countdown To FOMC: What Bitcoin And Crypto Traders Must Brace For"},"content":{"rendered":"

As the eagerly anticipated Federal Open Market Committee (FOMC) meeting approaches, the financial world is abuzz with speculation about the potential implications for Bitcoin and crypto. Tomorrow, on Wednesday, July 26th, at 2 pm EST, the FOMC will announce its interest rate decision. As usual, Federal Reserve (Fed) chair Jerome Powell will face the media at 2:30 pm EST.<\/p>\n

According to the CME FedWatch tool, the majority of the market is expecting a 25 basis point increase (99.8%). However, the real intrigue lies in what comes after this move and whether it marks the end of the rate hike cycle.<\/p>\n

After tomorrow\u2019s decision, the market expects the Fed to keep the key interest rate high for a longer period of time. A first rate cut could come in March 2024 at the earliest, if not in May.<\/p>\n

\n

Tomorrow is #FOMC<\/a> day, expect volatility. #Bitcoin<\/a> #Crypto<\/a><\/p>\n

98.9% probability of a 25 bps hike by the Fed.<\/p>\n

Market expects the Fed to keep the key interest rate high for a longer period of time. A first rate cut could come in March ’24 at the earliest, if not in May. pic.twitter.com\/C8wscv6BMd<\/a><\/p>\n

\u2014 Jake Simmons (@realJakeSimmons) July 25, 2023<\/a><\/p><\/blockquote>\n

Implications For Bitcoin And Crypto<\/h2>\n

For the past 16 months, the U.S. Federal Reserve has been grappling with inflation while hiking interest rates to levels not seen in 20 years. But all signs point to a possible end of the tightening cycle. The market is firmly expecting the 0.25 bps hike to a range of 5.25 to 5.5% will be the last.<\/p>\n

\"CME
Fed target rate probabilities | Source: CME FedWatch tool<\/figcaption><\/figure>\n

Meanwhile, Bitcoin and crypto have experienced a period of relative immunity to macroeconomic events and rate hike speculations in the first seven months of the year. However, investors must be aware that such conditions might not last indefinitely.<\/p>\n

Related Reading: Bitcoin Witnesses Historic Whale Exodus: What You Need To Know<\/a><\/div>\n

On Monday, the Bitcoin price retraced to $29,000 support level. Seemingly, market participants have been cautious in the lead-up to the FOMC’s July meeting, aware that the FOMC meeting can have a profound impact.<\/p>\n

In June, Fed Chairman Jerome Powell hinted at the possibility of further rate hikes this year, with some committee members advocating for two more increases. The market now anxiously awaits the outcome of this meeting to ascertain the central bank’s future policy stance.<\/p>\n

However, factors such as declining inflation in the United States and a weaker labor market strengthen the market expectations. The previously skyrocketing inflation, which led to the tightening cycle, has shown signs of abating. June’s Consumer Price Index (YoY) data revealed a decline in inflation to 3.0% from 4.0%. The core rate fell from 5.3% in May to 4.8% in June. Both declines were stronger than previously anticipated. Remarkably, the core rate is now trading below the level of the US federal funds rate, which was pretty rare in the last 20 years.<\/p>\n

Related Reading: Over $41 Million in Bitcoin Long Positions Liquidated as BTC Crashes Toward $29K<\/a><\/div>\n

The prolonged strength of the US labour market has long been the biggest headache for the Federal Reserve because of the imbalance between supply and demand. At the peak of this imbalance, there were two job openings for every available worker, which drove up wages accordingly. As demand and supply approach equilibrium, job creation numbers have declined. Also, there are even early indications of declining consumer spending.<\/p>\n

So, what does all of this mean for Bitcoin and crypto investors? As always, it’s essential to approach the market with a balanced perspective. While BTC and cryptocurrencies have shown resilience in the face of traditional economic events, they are not entirely insulated from larger macroeconomic trends.<\/p>\n

Investors should closely monitor the FOMC’s interest rate decision and Jerome Powell\u2019s subsequent statements. Any signals about the future rate hike cycle could have repercussions for both the traditional as well as Bitcoin and crypto markets, triggering a further sell-off.<\/p>\n

At press time, the market continued to show indecision. BTC was trading at $29,200.<\/p>\n

\"Bitcoin
BTC price hovers above $29k, 4-hour chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

As the eagerly anticipated Federal Open Market Committee (FOMC) meeting approaches, the financial world is abuzz with speculation about the potential implications for Bitcoin and crypto. Tomorrow, on Wednesday, July 26th, at 2 pm EST, the FOMC will announce its interest rate decision. As usual, Federal Reserve (Fed) chair Jerome Powell will face the media at 2:30 pm EST. According to the CME FedWatch tool, the majority of the market is expecting a 25 basis point increase (99.8%). However, the real intrigue lies in what comes after this move and whether it marks the end of the rate hike cycle. After tomorrow\u2019s decision, the market expects the Fed to keep the key interest rate high for a longer period of time. A first rate cut could come in March 2024 at the earliest, if not in May. Tomorrow is #FOMC day, expect volatility. #Bitcoin #Crypto 98.9% probability of a 25 bps hike by the Fed. Market expects the Fed to keep the key interest rate high for a longer period of time. A first rate cut could come in March ’24 at the earliest, if not in May. pic.twitter.com\/C8wscv6BMd \u2014 Jake Simmons (@realJakeSimmons) July 25, 2023 Implications For Bitcoin And Crypto For the past 16 months, the U.S. Federal Reserve has been grappling with inflation while hiking interest rates to levels not seen in 20 years. But all signs point to a possible end of the tightening cycle. The market is firmly expecting the 0.25 bps hike to a range of 5.25 to 5.5% will be the last. Meanwhile, Bitcoin and crypto have experienced a period of relative immunity to macroeconomic events and rate hike speculations in the first seven months of the year. However, investors must be aware that such conditions might not last indefinitely. Related Reading: Bitcoin Witnesses Historic Whale Exodus: What You Need To Know On Monday, the Bitcoin price retraced to $29,000 support level. Seemingly, market participants have been cautious in the lead-up to the FOMC’s July meeting, aware that the FOMC meeting can have a profound impact. In June, Fed Chairman Jerome Powell hinted at the possibility of further rate hikes this year, with some committee members advocating for two more increases. The market now anxiously awaits the outcome of this meeting to ascertain the central bank’s future policy stance. However, factors such as declining inflation in the United States and a weaker labor market strengthen the market expectations. The previously skyrocketing inflation, which led to the tightening cycle, has shown signs of abating. June’s Consumer Price Index (YoY) data revealed a decline in inflation to 3.0% from 4.0%. The core rate fell from 5.3% in May to 4.8% in June. Both declines were stronger than previously anticipated. Remarkably, the core rate is now trading below the level of the US federal funds rate, which was pretty rare in the last 20 years. Related Reading: Over $41 Million in Bitcoin Long Positions Liquidated as BTC Crashes Toward $29K The prolonged strength of the US labour market has long been the biggest headache for the Federal Reserve because of the imbalance between supply and demand. At the peak of this imbalance, there were two job openings for every available worker, which drove up wages accordingly. As demand and supply approach equilibrium, job creation numbers have declined. Also, there are even early indications of declining consumer spending. So, what does all of this mean for Bitcoin and crypto investors? As always, it’s essential to approach the market with a balanced perspective. While BTC and cryptocurrencies have shown resilience in the face of traditional economic events, they are not entirely insulated from larger macroeconomic trends. Investors should closely monitor the FOMC’s interest rate decision and Jerome Powell\u2019s subsequent statements. Any signals about the future rate hike cycle could have repercussions for both the traditional as well as Bitcoin and crypto markets, triggering a further sell-off. At press time, the market continued to show indecision. BTC was trading at $29,200. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":544263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,6664,2007,88208,88026,2084],"class_list":["post-544262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto","tag-fed","tag-fed-rate-announcement","tag-fed-rate-hike","tag-fomc"],"acf":[],"yoast_head":"\nFOMC Preview: What Bitcoin, Crypto Traders Must Brace For<\/title>\n<meta name=\"description\" content=\"As the FOMC meeting approaches, the financial world is abuzz with speculation about the potential implications for Bitcoin and crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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