#btc The price of Bitcoin wavers ahead of the Fed's interest rate decision

Bitcoin (BTC) fell to $59,500 on Binance ahead of tomorrow's Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a tough stance from the Federal Reserve (Fed), with expectations that interest rates will remain unchanged.

The CME FedWatch tool indicates that only 4.4% of economists predict a rate cut (the first in over a decade), while a dominant 95.6% anticipates that rates will remain stable between 525 and 550 basis points.

According to The Kobeissi Letter, current market data indicates a 36% probability that there will be no interest rate cuts this year. Four months ago, the probability of maintaining current rates was only around 3%.