🚨 BTC FOMC WATCH 🚨
#Bitcoin is feeling the heat ahead of key U.S. CPI data and a crucial Fed meeting. If shelter prices ease, it could boost hopes for Fed rate cuts, weaken the dollar, and potentially spark a BTC rally. 📉💪
Bitcoin has dropped over 5% since Friday, now trading around $67,350. Meanwhile, the dollar index has climbed to 105.20. The Fed is expected to keep rates steady, with hints at two rate cuts this year instead of three, especially after strong payroll data. 💼
The focus will be on the Fed's inflation outlook. If they drop their concern about not making progress toward the 2% inflation goal, Treasury yields and the dollar might dip. Historically, Fed Chair Powell's dovish tone has led to a weaker dollar. Unless CPI surprises or Powell gets hawkish, a big dollar surge seems unlikely. 📊
Bitcoin often dips before Fed decisions but tends to bounce back afterward. Will history repeat? Stay tuned! 🚀📉📈