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🟡 Bitcoin price wobbles ahead of Fed’s rate decision
Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.
The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cut—the first in over a decade—while a dominant 95.6% anticipate rates to hold steady between 525-550 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 likelihood of maintaining current rates was only about 3%.
Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.
🔺 Stagflation risk
Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.
The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarter’s 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.
Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.
Bitcoin’s trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.
A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Fed’s key decision.
$BTC #BTC #Bitcoin
Bitcoin (BTC) dipped as low as $59,500 on Binance ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting. Market participants are bracing for a hawkish stance from the Federal Reserve (Fed), with expectations set for unchanged interest rates.
The CME FedWatch Tool indicates a mere 4.4% of economists predict a rate cut—the first in over a decade—while a dominant 95.6% anticipate rates to hold steady between 525-550 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 likelihood of maintaining current rates was only about 3%.
Expectations have also shifted to just one reduction this year. Previously, the market anticipated six rate cuts. Additionally, the probability of experiencing two or more rate cuts has diminished to 31%.
🔺 Stagflation risk
Amidst this financial climate, the US grapples with stagflation risks as inflation persists and economic growth slows.
The first quarter of 2024 saw GDP growth decelerate to 1.6%, falling short of the 2.2% forecast and down from the previous quarter’s 3.4%. Concurrently, the US Core PCE inflation index climbed from 2.0% to 3.7%.
Fed Chair Jerome Powell stated that recent data does not make the Fed more confident, suggesting a longer timeline to regain economic stability. He expressed belief in the adequacy of current policies to navigate the risks at hand, hinting at sustained high-interest rates without increases.
Bitcoin’s trajectory mirrored these economic uncertainties, dropping below $62,000 earlier in the week due to renewed stagflation worries.
A brief rally above $64,000 occurred with the launch of spot Bitcoin and Ethereum ETFs in Hong Kong yesterday, but the momentum was short-lived as investor caution set in ahead of the Fed’s key decision.
$BTC #BTC #Bitcoin
You missed #bTC again,because you believed in all FUD, 🤝
Only Holders will win, 🚀🚀🚀
#ZeusInCrypto #BitcoinByZeusInCrypto
Only Holders will win, 🚀🚀🚀
#ZeusInCrypto #BitcoinByZeusInCrypto
LIVE
ZeusInCrypto
--
‼️ #BTC Targets ‼️
First target $67,000-$68,000
Second target
$74,000-$75,000
Bullish momentum is on, remember there is always a bearish move after bullish invalidation. So move with SLs in profits and partial profit booking strategies. #dyor
#ZeusInCrypto #ZeusAkaHamad
First target $67,000-$68,000
Second target
$74,000-$75,000
Bullish momentum is on, remember there is always a bearish move after bullish invalidation. So move with SLs in profits and partial profit booking strategies. #dyor
#ZeusInCrypto #ZeusAkaHamad
$BTC
URGENT!!! 🚨BREAKING ALERT🚨
Btc down Down and reach $58665 but its Bullish time!!!! now.
Stock market down by down its means #bTC pump and cross $61k+ Tomorrow.
When Bitcoin's more down, touch $58400 So, thos time I open LONG 🟢 position on BTC My target $60k.
And your Action?
#PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek
URGENT!!! 🚨BREAKING ALERT🚨
Btc down Down and reach $58665 but its Bullish time!!!! now.
Stock market down by down its means #bTC pump and cross $61k+ Tomorrow.
When Bitcoin's more down, touch $58400 So, thos time I open LONG 🟢 position on BTC My target $60k.
And your Action?
#PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek
$BTC 👈See Now!!!
🚨BREAKING ALERT🚨
BTC REPEAT THIS HISTORY ?
#bTC reach $70k+ in this Month?
#DODOEmpowersMemeIssuance #CATIonBinance #CATIonBinance #FOMC
🚨BREAKING ALERT🚨
BTC REPEAT THIS HISTORY ?
#bTC reach $70k+ in this Month?
#DODOEmpowersMemeIssuance #CATIonBinance #CATIonBinance #FOMC