Crypto Prices Could Pump This Week as Federal Reserve Interest Rate Decision Approaches
Fed Chair Jerome Powell. Source: Screenshot, YouTube/Federal Reserve Prices of major crypto assets could pump hard this week if the Federal Reserve in the US even hints at slowing the pace of rate increases later this year. The expectation that markets could rally this week leading up to – and potentially following – the Fed’s rate announcement on Wednesday is shared by both investment banks and members of the crypto community . However, opinions still differ on what a rally will look like and what exactly is needed for it to happen. It is widely expected by analysts that the Fed will raise rates by 75 basis points this week, but economists are unsure what will happen at the next Fed meeting in December. The expectation for a 75-point hike at this meeting is also shared by the market, with derivatives exchange CME’s FedWatch Tool currently indicating an 86% probability that the Fed will raise rates by 75 basis points. Notably, the tool also ...