Reserve

FOMC

Bitcoin ETF

Bitcoin

April

Investors in the crypto market are on edge as they await the Federal Open Market Committee (FOMC) interest-rate&nbsp;decision,&nbsp;amid growing apprehensions over potential delays in the Federal Reserve’s rate cut plans. Notably, the recent economic indicators, including U.S. GDP and Personal Consumption Expenditures (PCE) inflation data, have exacerbated concerns, signaling a possible hawkish stance from the Fed.
<h2 id="span-data-preserver-spaces-true-focus-on-fomc-decision-and-other-economic-events-span">Focus on FOMC Decision and Other Economic Events</h2>
As the crypto market braces for volatility, attention&nbsp;is squarely fixed&nbsp;on the upcoming FOMC interest-rate decision scheduled for May 1. Investors are eager to glean insights from Federal Reserve Chair <a href="https://coingape.com/trump-advisors-seeks-diminish-fed-liberty-jerome-powell-chair-stake/" target="_blank" rel="noopener noreferrer nofollow">Jerome Powell’s</a> subsequent press conference, expected to shed light on the central bank’s future policy trajectory.
According to the CME FedWatchTool, there is a 97.6% probability that the Federal Reserve will keep the <a rel="noopener noreferrer nofollow" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank">interest rate</a> unchanged, with market pundits anticipating further delays in rate cuts. Meanwhile, several other key economic events scheduled throughout the week, including&nbsp;the release of&nbsp;consumer confidence data and U.S. trade deficit figures, will offer vital clues to crypto market traders about the U.S. economic condition.
For context, May 2 marks the release of U.S. Trade Deficit and Productivity data, offering insights into the health of the nation’s economy. Subsequently, on May 3, the U.S. employment report for April will be unveiled, crucial for understanding labor market dynamics amid central bank interest rate adjustments.
Also Read: <a href="https://coingape.com/bitcoin-etf-face-new-downtrend-here-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF To Face A New Downtrend, Here’s Why</a>
<h2 id="span-data-preserver-spaces-true-crypto-market-braces-for-volatility-span">Crypto Market Braces For Volatility</h2>
The latest data from the Bureau of Economic Analysis revealed concerning figures, with first-quarter <a href="https://coingape.com/bitcoin-breaks-lower-us-gdp-slows-1-6-hints-hot-pce-inflation/" target="_blank" rel="noopener noreferrer nofollow">GDP</a> growth falling short at 1.6% against market expectations of 2.5%. This disappointing performance has heightened worries about inflationary pressures. In addition, the unexpected surge in the Core PCE Price Index from 2.0% to 3.7% in Q1 and a rise in PCE inflation from 1.8% to 3.4% has further dampened the crypto market sentiment.
Simultaneously, the <a href="https://coingape.com/us-pce-inflation-soars-2-7-how-bitcoin-price-faring/" target="_blank" rel="noopener noreferrer nofollow">Core PCE inflation</a> for March, excluding food and energy prices, rose 0.3% MoM and 2.8% annually, surpassing market forecasts. Such inflationary spikes have fueled apprehensions about a potential delay in the <a href="https://coingape.com/economic-outlook-altered-as-fed-rate-cut-delay-creates-market-imbalance/" target="_blank" rel="noopener noreferrer nofollow">Federal Reserve’s</a> policy rate cut plans, adding to crypto market instability.
Meanwhile, the <a href="https://coingape.com/crypto-market-selloff-70-bln-liquidated-btc-sol-xrp-shib-prices-fell/" target="_blank" rel="noopener noreferrer nofollow">crypto market</a> has&nbsp;gone through volatile trading&nbsp;lately,&nbsp;amid gloomy economic&nbsp;data,&nbsp;and significant <a href="https://coingape.com/bitcoin-etf-records-first-all-net-outflow-of-83m-since-launch-bitcoin-bottomed/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF outflows</a>.&nbsp;Notably, the Bitcoin ETF has noted outflow for the three consecutive days through April 26 last week.
Also Read: <a href="https://coingape.com/bosera-hashkey-huaxia-and-harvest-etfs-join-hong-kong-stock-exchange/" target="_blank" rel="noopener noreferrer nofollow">Bosera HashKey, Huaxia, and Harvest ETFs Join Hong Kong Stock Exchange</a>
The post <a href="https://coingape.com/crypto-market-fomc-focus-gdp-pce-data-raises-fed-rate-cut-concerns/" rel="noopener noreferrer nofollow">Crypto Market: FOMC In Focus As GDP &amp; PCE Data Raises Fed’s Rate Cut Concerns</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Market: FOMC In Focus As GDP & PCE Data Raises Fed’s Rate Cut Concerns

Table of Contents

Coingape News Media

Other articles published on Apr 28, 2024

Expert Predictions on Most Profitable Cryptos for This Summer

LEGO Fortnite Prepares for Epic Star Wars Crossover

Grok Price Prediction: GROK Crypto Skyrockets 25% After Elon Musk Tweet As This New AI Meme Coin ...

SEC Intensifies Legal Actions Against Crypto Exchanges and Ethereum

Expert Selected 5 Altcoins Primed for Biggest Gains Next Week

Expert and Seasoned Crypto Analysts Forecasts Future of ETH and Explosive Impact on Altcoins

Join our free newsletter for daily crypto updates!