#MarketCorrectionBuyOrHODL Bitcoin BTC remained below $105,000 on December 18, as markets awaited the next decision from the United States Federal Reserve on interest rates.

Bitcoin traders see confirmation of rate cuts by the Fed

Data from Cointelegraph Markets Pro and TradingView showed that tests of BTC price support characterized the landscape around the opening of Wall Street on the day.

Scheduled for 2:30 PM Eastern Time, the announcement from the Federal Open Market Committee (FOMC) regarding rates will be followed by a speech and press conference from Fed Chairman Jerome Powell.

As reported by Cointelegraph, expectations strongly favor the Fed reducing the benchmark rate by 0.25%, according to data from the CME Group's FedWatch tool.

Commenting on this, the trading resource The Kobeissi Letter reiterated concerns about an upward shift in Fed policy in 2025 due to a resurgence of inflation, despite ending the current year with cuts.

"Although a 25 basis point rate cut is expected today, the odds of rate HIKES returning in 2025 are increasing," he wrote in one of his latest posts on X.

Kobeissi referred to the prediction service Kalshi, which shows a 19% chance that the Fed will raise rates.