Related: Bitcoin could rally regardless of what the Federal Reserve FOMC decides this week: Here’s whyAt the time of writing, the June FOMC meeting had combined rate cut odds of around 30% — noticeably lower than in recent weeks.“Expectations are clearly pessimistic for now,” he concluded. “If the Fed does decide to cut rates in this context, it will trigger volatility and might spark fear among investors (depending about how many Bps).”Fed target rate probability comparison for June 18 FOMC meeting.
While market expectations for the Federal Open Market Committee (FOMC) meeting were practically unanimous, as Cointelegraph reported, Fed Chair Jerome Powell’s subsequent statement and press conference were of more interest. “The market will be eager to watch for any dovish or hawkish changes in their tone which has been pretty mixed recently,” popular trader Daan Crypto Trades summarized in part of ongoing X analysis alongside data from CME Group’s FedWatch Tool.
Source: CME GroupExamining Bitcoin order book activity, Keith Alan, co-founder of trading resource Material Indicators, said that nearby liquidity had been “cleared out” in advance of the event.“Pleasantly surprised BTC held above the YOU, but won’t be surprised if price round trips the range before the end of the week,” he told X followers, referring to the yearly open level at $93,500 as a potential downside target.
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Author / Journalist: Cointelegraph by William Suberg
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