Today, investors are closely watching the US Federal Reserve's interest rate decision for December 2024, which could have a significant impact on the cryptocurrency market.
When Will the FED Interest Rate Decision Be Announced?
The FED will announce its interest rate decision for December on December 18, 2024, at 10:00 PM Moscow time.
What Are the Focused Expectations?
Global markets are eagerly awaiting the FED's decision. The last interest rate was reduced to 4.75% in November. A 25 basis points cut to 4.5% is expected in December. Analysts predict the decision text and statements by FED Chairman Jerome Powell will impact Bitcoin and cryptocurrency prices. Recent US employment and inflation data indicate a likely third rate cut for the year. Oxford Economics' Ryan Sweet forecasts additional rate cuts in 2025.
How Is Bitcoin Expected to Move?
Awaiting the FED's decision and Powell's statements, Bitcoin has paused after surpassing $108,000. Volatility is expected to increase post-FOMC meeting, potentially giving Bitcoin an upward momentum. K33 Research analysts foresee a relatively stable macroeconomic environment, favoring Bitcoin's price rise.
The cryptocurrency market is tensely awaiting the FED's decisions and subsequent statements, which could significantly impact digital asset prices. Regardless of the outcome, analysts expect high volatility.
