The FOMC Meeting: potential consequences and expected responses from the Bitcoin and crypto markets.

Quick Summary:

Bitcoin and the broader cryptocurrency market have come under strong selling pressure a day before the FOMC meeting, as sentiment turns risk-OFF.

The Bitcoin price is already down over 5% just flirting around the $60,000 level as of now.

Equities should welcome the Fed’s pushback on rate hikes, and while that is not a material bullish catalyst, it should support stocks.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Bitcoin (BTC) Price Interest rate FOMC Meeting 24/7 Cryptocurrency News Fed rate cuts Federal Reserve

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-01 @ 14:35:41 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 536 words

Reading Time: 3 minutes read

Sentences: 45 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20845977

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 27 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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