The U.S. Federal Reserve is expected to announce a decision to maintain interest rates, which could impact the cryptocurrency market.
Federal Reserve Rate Decision Predictions
According to CME FedWatch data, the chance of rates remaining unchanged is 99.9%. This decision is expected to be announced on June 19 at 2 AM Beijing time.
Crypto Market Response to Stability
Anticipated stability may lead to limited short-term volatility for cryptocurrencies like Bitcoin and Ethereum. This forecasted stability could place restrictions on growth potential for major cryptocurrencies, aligning with muted institutional participation.
Current Status of Bitcoin Market
Currently, Bitcoin's market cap stands at $2.10 trillion, with a dominance of 63.99%. Despite a 1.65% dip over the last 24 hours, the 90-day price change remains positive at 22.72%. Trading volumes reached $52.95 billion.
The anticipated stability of the Federal Reserve's interest rates may suggest a cautious optimistic trend in investments across both traditional and cryptocurrency sectors, amidst an ever-evolving financial landscape.
