Bitcoin trades above $60,000 ahead of FOMC decisions
- Bitcoin {{BTC}} is holding above $60,000 despite briefly dipping below that mark.
- At press time, BTC is trading around $60,300, up nearly 4% in the last 24 hours.
- Major tokens have been mixed, with ether {{ETH}}, BNB, and dogecoin {{DOGE}} all up less than 1%, while xrp {{XRP}}, ADA, and TON have all seen small losses.
- The CoinDesk 20 Index (CD20), which tracks the largest tokens, is up 1.1%.
FOMC Expectations
- The FOMC rate decision and statement is expected at 2 p.m. ET on Wednesday. - Traders see a 67% chance of a rate cut to the 4.5%-5% range.
- A bigger rate cut could trigger a sell-off, signaling trouble in the economy.
Expert Opinions
- The size of the rate cut could cause a range of reactions in the market, according to CoinMarketCap's Alice Liu.
- SkyBridge Capital's Anthony Scaramucci predicts record Bitcoin gains amid rate cuts and clearer US regulations.
Other Crypto News
- Sui surges over 7% on USDC launch on platform and Circle's Cross-Chain Transfer Protocol (CCTP) rollout.
- Circle announces partnership with Polymarket to integrate its infrastructure into its forecast platform.