FOMC Drop in Bitcoin Happened 4 More Times: Will the Rise with the FED Be Repeated?
Bitcoin price followed a surprising pattern ahead of the last 4 FOMC meetings.
Cryptocurrency researcher Gumshoe stated that before the last four FOMC meetings this year, Bitcoin dropped significantly and then reversed all this decline and rose.
Describing this situation as "a clear fraud", the researcher made a reproach regarding the functioning of the market:
4 FOMCs took place in 2024. Each had the same fraud breakdown. Bitcoin fell 10% in the 48 hours before all this. The FOMC saved the entire movement on its day. The market always prices in extremely bearish statements, then reverses.
Will the same happen this time?
The US Federal Reserve's FOMC meeting started on June 11 and will end today. With the end of the meeting, the US Consumer Price Index (CPI) and the FED interest rate decision will be announced.
After the non-farm employment data announced by the USA last Friday, expectations for the FED's interest rate cut were further affected. Giant banks such as JPMorgan postponed the discount expectation dates from July to September.
On the other hand, analysts, who think that all this negative flow may have already been priced in, believe that unless very extreme data comes from the FED, Bitcoin and cryptocurrency prices will gain upward momentum again.