Bitcoin is near $30,000 on FOMC day, but concerns of a 30% drop are surfacing.
) may “take out shorts” to crack $30,000 during the day’s key United States macroeconomic policy updates, analysis says.
As bets pile up over how BTC price will react to the Federal Reserve’s decision on interest rates, $30,000 is in sight — but a drop to below $20,000 is not off the table.The Federal Open Market Committee will decide on how to tweak baseline interest rates on March 22, amid suspicions that the ongoing U.S. banking crisis has disrupted policy.
From ongoing rate hikes forecast just last month, markets are now considering the chances that the Fed will pause the cycle, data from CME Group’sThis would be a key boon for risk assets, as the Fed would be tacitly implying that the eighteen months it has spent removing liquidity from the economy has not been the silver bullet to recovery., with a chunk of the quantitative tightening removals undone in a single week.
“So FOMC today which means one thing, VOLATALITY. No doubt we will trend sideways util the meeting, which means tread cautiously,” Crypto TonyBTC/USD annotated chart. Source: Crypto Tony/Twitter Markets commentator Tedtalksmacro meanwhile laid out the probabilities of each Fed path and their likely impact on risk assets.25bps hike : Nothing burger, the dot plot + press conference dictate the market's move.
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