🚨 Tonight may be bigger than a normal #fomc

This could be Powell’s last major FOMC before a Fed transition.

And markets may be underestimating that.

Historically, $BTC saw major drawdowns around Fed Chair transitions:

• Yellen: -82%

• Powell 1st term: -73%

• Powell 2nd term: -61%

Tonight:

11:30 PM IST: FOMC decision

12:00 AM IST: Powell speaks

Expectations:

No rate cut.

Focus is the tone