Key Takeaways

• Markets are pricing a roughly 93% chance that the Federal Reserve raises interest rates by 25 basis points to 3.75%–4.00%.

• Bitcoin is trading around $76,000 after falling 4% on Tuesday, while the 10-year Treasury yield has approached 5%.

• For crypto markets, the Fed’s updated rate projections and Chair Kevin Warsh’s comments may matter more than the widely expected hike itself.

The Federal Reserve is expected to raise interest rates Today for the first time since 2023, but for Bitcoin and the broader crypto market, the rate decision itself may not be the biggest event of the day.

Instead, traders will be watching what comes next.

Markets are pricing in…