Bitcoin and Crypto Traders Brace for FOMC Announcement

The Federal Open Market Committee (FOMC) is scheduled to meet on June 14-15, 2023. This meeting will be closely watched by Bitcoin and crypto traders, as it is expected that the FOMC will raise interest rates by 0.75%.

A rate hike of this magnitude would be the largest since 1994. It is being undertaken in an effort to combat inflation, which is at a 40-year high.

The FOMC’s decision is likely to have a significant impact on the price of Bitcoin and other cryptocurrencies. A rate hike could lead to a sell-off in riskier assets, such as cryptocurrencies.

However, some traders believe that the FOMC’s decision could actually be bullish for Bitcoin. They argue that a rate hike would signal that the Federal Reserve is taking inflation seriously, which could lead to increased institutional investment in Bitcoin.

Ultimately, the impact of the FOMC’s decision on the price of Bitcoin is uncertain. However, it is clear that the meeting will be closely watched by traders and investors alike.

Here are some of the key things to watch for:

  • The size of the rate hike. A 0.75% hike would be the largest since 1994.
  • The FOMC’s assessment of the inflation outlook. If the FOMC believes that inflation is still a significant threat, it could signal that more rate hikes are on the way.
  • The FOMC’s comments on the future of monetary policy. Any indication that the FOMC is planning to scale back its quantitative easing program could weigh on risk assets, such as Bitcoin.

Overall, the FOMC’s meeting is likely to have a significant impact on the price of Bitcoin and other cryptocurrencies. Traders should be prepared for volatility in the days and weeks following the meeting.