Bitcoin Market Watches Federal Reserve Meeting for Interest Rate Decision - Latest cryptocurrency news

Bitcoin Market Watches Federal Reserve Meeting for Interest Rate Decision

The Bitcoin market closely monitors price movements at the important resistance level of $38,000. The possibility of the US Federal Reserve keeping interest rates steady at its meeting on December 13 creates expectations of increased capital inflow into Bitcoin.

According to Bitfinex analysts, a pause in interest rates can signal an important period for investors. This situation can provide more capital inflow to cryptocurrencies such as Bitcoin, which are risky assets.

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In a speech this week, US Federal Reserve Chairman Chris Waller stated that the slowdown in the US economy is a positive sign and that the current monetary policy is consistent with the Fed’s 2% inflation target.

Waller also expressed his belief that the current monetary policy is well-positioned to slow down the economy and bring inflation back to 2%. In addition, he highlighted that CME FedWatch forecasts a 95% chance of interest rates staying unchanged at the Federal Open Market Committee meeting in December.

However, Bitfinex analysts emphasized Waller’s warning that inflation is still high and the uncertainty about whether the slowdown trend will continue. In the long run, they pointed out that the impact of halting interest rates on Bitcoin and other cryptocurrencies will depend on economic factors and overall monetary policy direction.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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