FOMC

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<ul class="news-points"> 
 <li>Top cryptocurrencies including Bitcoin and Ether have consolidated ahead of today’s FOMC meeting. </li> 
 <li>Crypto experts expect BTC to rally following the widely anticipated interest rate hike by the US Federal Reserve. </li> 
 <li>Traders’ sentiment appears to be divided with a near 1:1 ratio on BTC long and short positions on major exchanges.</li> 
</ul> 
Top cryptocurrencies, including <a href="https://coinedition.com/ethereum-vs-bitcoin-use-cases-technical-differences-scaling-issues/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin and Ether</a>, are consolidating ahead of today’s FOMC meeting, where a rate hike of 25 basis points is expected. Crypto experts have predicted that an interest rate hike followed by a pause would drive up <a href="https://coinedition.com/bitcoin-btc-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">the price of BTC</a> and ETH, though most traders are looking forward to a pause rather than another hike. 
The Federal Open Market Committee (FOMC) meeting scheduled for later today is arguably the most anticipated event of this month for traditional finance. However, its impact has historically spilled over to the crypto market as well, with mainstream cryptocurrencies often reacting to the U.S. Federal Reserve’s stance on interest rates. 
According to a report by <a href="https://www.bloomberg.com/news/articles/2023-07-25/jpmorgan-s-trading-desk-sees-fed-hike-and-pause-lifting-stock-market#xj4y7vzkg" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a>, analysts at JPMorgan Chase &amp; Co.’s trading desk have projected a 65% probability of an interest rate hike and pause b… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/top-cryptocurrencies-consolidate-ahead-of-fomc-meeting/">Top Cryptocurrencies Consolidate Ahead of FOMC Meeting</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Top Cryptocurrencies Consolidate Ahead of FOMC Meeting

Coin Edition

Alte articole publicate pe 26 iul. 2023

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