The Federal Reserve is about to announce its interest rate decision, a key moment for financial markets and investors, especially in the context of cryptocurrencies.
Fed and Cryptocurrencies
Ethereum (ETH) is hovering around $3,800, while Bitcoin (BTC) remains just under $118,000. Investors are eagerly waiting for Chairman Jerome Powell to move away from his firm stance against reducing interest rates. Former President Trump reiterated the need for rate cuts, while Bessent asserted the White House’s respect for the Federal Reserve’s independence.
VET Coin Price Prediction
VET Coin has not met expectations for a while, despite some attempts at upward movement. The analyst suggests considering staking while waiting for a rapid upward movement once a crucial breakthrough point is reached. Support is at $0.0192, but following an upward breakout, prices may close above $0.03 and could move toward $0.081 and $0.119, offering significant profit potential.
Analysts Share Insights
Analyst Michael Poppe noted that we are reaching the final phase of this range, predicting several events to follow the Fed meeting, including the monthly closure. He cautioned that swift price movements could lead to regrets for investors. Colleague DaanCrypto also highlighted the 60% probability of a rate cut at this meeting.
Actions by the Federal Reserve could significantly impact the cryptocurrency market. Investors are poised for potential changes and are preparing for the consequences following the Fed meeting.
