2021-1-27 01:03 |
Comments from Fed chair Jerome Powell could tell bitcoiners how committed the central bank is to staying the course on low interest rates through the rest of the year.
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Bitcoin is trending higher at spot rates, floating above $60,000 and confirming gains of September 13. From price action in the daily chart, buyers appear to be back in the picture. The confidence follows the United States Federal Reserve’s (Fed) decision to slash rates by 50 basis points on September 18.
The Fed's interest rate decision could significantly influence crypto markets, affecting investor sentiment and economic dynamics globally. The post Fed holds interest rate steady at 23-year high, possible rate cut coming September appeared first on Crypto Briefing.
Crypto investment product AUM plunged late last week following a hawkish FOMC meeting and short-term macroeconomic outlook.
Bitcoin prices rise as the May Consumer Price Index report reveals a slowdown in inflation to 3. 3% year-over-year, raising expectations for potential interest rate cuts by the Federal Reserve later this year.
The eleven ETFs recorded $200 million in net outflows on Tuesday, the highest since May 1 figures of $580 million.
The U.S. central bank concludes its two-day policy meeting on Wednesday afternoon.
The Fed is widely expected to hold rates steady next week, but traders will be watching for signals about future policy moves.