FOMC Preview: Bitcoin And Crypto Eye The Fed's Next Move
Anticipation builds in both the traditional financial as well as Bitcoin and crypto sectors as the Federal Reserve's FOMC rate decision looms this Wednesday...
- The Federal Reserve's FOMC rate decision is approaching, and market participants predict no rate alterations in this cycle.
- Inflation has been increasing, with August experiencing a significant month-over-month growth.
- There are hints of a slowdown in the labor market.
- The release of the Fed's new "dot plot" at 2:00 pm is expected to be the most pivotal event, providing projections for interest rates and economic growth.
- Bitcoin's current state is uncertain amidst the rate decision, with fluctuating signals on the charts and potential influence from large traders.
- The rate decision could have potential repercussions for Bitcoin, but the general hawkish undertone may persist.
- Bitcoin has recently surged over 7% in the last 8 days.
The sentiment in the article is mixed. There is anticipation and uncertainty surrounding the Federal Reserve's rate decision and its impact on both traditional financial markets and the cryptocurrency sector. While there are concerns about inflation and a potential slowdown in the labor market, market participants predict no rate alterations. The sentiment towards Bitcoin is also uncertain, with fluctuating signals and potential market manipulation. However, there is also optimism as Bitcoin has recently experienced a surge.