๐๐ฅFederal Reserve's interest rate decision and its impact on the crypto market. The Fed has decided to hold interest rates steady at 3.5%-3.75%, with Fed Chair Jerome Powell's tone and language being crucial for market direction.
*Key Points:*
- *Interest Rate Decision*: The Fed's decision to keep rates unchanged reflects a cautious stance, balancing economic growth and inflation concerns.
- *Powell's Speech*: Powell's tone will be closely watched for hints on future monetary policy, which could impact crypto markets.
- *Crypto Market Reaction*: Bitcoin is currently trading around $89,000, with traders eyeing critical support levels at $87,145 and $84,099.
*Market Expectations:*
- *Rate Cuts*: Markets anticipate potential rate cuts later in the year, with futures pricing reflecting a high probability of steady rates today.
- *Inflation and Employment*: Powell's views on inflation and employment will be crucial in shaping market expectations.
*Potential Scenarios:*
- *Dovish Stance*: A dovish tone from Powell could spark a rally in risk assets, including crypto.
- *Hawkish Stance*: A hawkish tone could lead to a short-term pullback in crypto markets.
Click the below chart to trade๐$BTC
Click the below chart to trade๐$ETH
Click the below chart to trade๐$XRP
Must Follow, Like and Share this Post ๐๐๐ฅ