[All eyes on Bitcoin turn to the Federal Reserve's January interest rate decision! When will it be announced? This is the expectation!】
Bitcoin has climbed to $42,000 after recovering from lows of $38,000. Currently, investors' attention is focused on the U.S. Federal Reserve's (FED) first interest rate decision in 2024. This decision will have a crucial impact on the U.S. dollar, gold, stock markets, and cryptocurrency markets. It will determine the first interest rate level in 2024 and affect market expectations for the FED's future interest rate cut plans.
Although the FED is widely expected to leave current policy rates unchanged at its January meeting, FED Chairman Jerome Powell's statements and minutes will have important implications for Bitcoin and the cryptocurrency market as a whole. At present, the market generally believes that the FED will start cutting interest rates in May, but there is still uncertainty about the decision in March.
The odds of keeping rates on hold in January are as high as 96.9%, while the odds of a second rate adjustment in March are 47%, according to data from CME Group's FED Watch Tool. Notably, the FED kept rates unchanged in the 5.25-5.50% range at its last meeting in 2023, as expected.
Investors will pay close attention to the interest rate decision announced by the FED at 22:00 on January 31, 2024 (UTC+3) to determine the next direction of the market.
