How Will FOMC Day Affect Bitcoin And Altcoins
The Federal Open Market Committee (FOMC) meeting is underway, with the U.S. Federal Reserve set to announce its next monetary policy decision at 2 PM ET on Wednesday.
According to data from CME FedWatch, traders expect the central bank to keep its federal funds target rate unchanged at 425 to 450 basis points.
However, Fed Chair Jerome Powell’s press conference could trigger significant volatility in the markets, potentially having a major impact on crypto investments.
Given the weak first-quarter U.S. GDP report, there’s a strong likelihood that Powell will adopt a more dovish stance, offering potential relief for the crypto market.
Smart-money investors are already buying the dip, pushing Bitcoin’s price back to…
