The cryptocurrency market is closely watching the Federal Open Market Committee's (FOMC) meeting today, expected to conclude with an important interest rate decision.
Fed Interest Rate Decision Expectations
Currently, U.S. interest rates range between 4.25% and 4.5%. It is expected that the Fed will keep rates unchanged during today’s meeting, maintaining a cautious stance in the face of high inflation and economic uncertainties.
When Will the Fed's Decision Be Announced?
The Fed’s interest rate decision is scheduled for 9 PM Turkish time today. Chairman Powell's press conference will follow at 9:30 PM and is expected to last until 10:30 PM.
Impact on the Cryptocurrency Market
Bitcoin has been trading within a narrow range of $80,000 to $85,000, with the market anticipating today's decision. Following Powell's conference, increased volatility in the cryptocurrency market is expected.
The crypto market is awaiting significant news from the Fed. Experts suggest pausing trading until the market's reaction to the rate decision becomes clear.
