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Reading: All Eyes on Bitcoin and Altcoins Turned to 22.00 and 22.30! What to Expect?
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EdaFace Newsfeed > Latest News > Crypto News > All Eyes on Bitcoin and Altcoins Turned to 22.00 and 22.30! What to Expect?
Crypto News

All Eyes on Bitcoin and Altcoins Turned to 22.00 and 22.30! What to Expect?

vitalclick
Last updated: December 18, 2024 2:42 pm
2 months ago
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Bitcoin (BTC) $104,049.2lost value today following unstable price movements. The largest cryptocurrency dropped by 2 percent, falling to $103,750 during the day. Currently, the markets are focused on the interest rate decision that the US Federal Reserve (Fed) will announce today. Before the announcement, investors are trying to reduce their risks.

The decline in altcoins is more pronounced compared to BitcoinLimited Interest Rate Cut Expectation from the Fed

The decline in altcoins is more pronounced compared to Bitcoin

Bitcoin’s decline altcoin marketIt caused greater losses in XRP, LEFT And ETH Important altcoins such as moved parallel to the largest cryptocurrency. However, the decline in some altcoins was steeper than Bitcoin.

Due to the market-wide uncertainty, investors appear to have reduced their positions. Therefore, investors need to be prepared for high volatility.

Limited Interest Rate Cut Expectation from the Fed

The Fed will announce its interest rate decision today. The interest rate decision will be announced at 22:00 GMT. At the same time, economic projections and interest rate estimates called “dot plot” will be shared. Half an hour from now, the Fed President Jerome PowellIt is expected that he will give detailed information to the markets at the press conference.

Fed Interest Rate Decision

Fed in the markets interest It is expected to reduce the rate by 25 basis points to the range of 4.25 percent to 4.5 percent. This represents a total reduction of 100 basis points since September. However, interest rate cut expectations for next year are lower. ING analysts made the assessment that “Recovery in the economy and inflation risks may cause interest rate cuts to be limited.”

Analysts state that rising costs may affect interest policies. In particular, immigration restrictions and tariff practices are expected to put pressure on inflation. Powell’s statements will be followed closely as they are of critical importance for the direction of the markets.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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