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Breaking: Bitcoin Reacts to Fed’s Rate Decision
Bitcoin has reacted to the Federal Reserve’s (Fed) latest rate decision, with prices experiencing a significant correction following the announcement.
The Fed’s policy statement shows that the central bank is unsure whether it should continue cutting rates, which has led to a shift in market expectations. As a result, markets are now pricing in less easing in 2024, according to Jeroen Blokland, founder and manager of the Blokland Smart Multi-Asset Fund.
The median “dot” on the Fed’s dot plot has moved 0.50% higher to 3.875%, indicating a potential slowdown in rate cuts. This has led to a sharp correction in Bitcoin prices, with many analysts warning that this could be a sign of a bearish trend.
“I don’t think markets will like that much,” Blokland said on social media, referring to the Fed’s revised dot plot.
As a result, US rate futures are now pricing in just two rate cuts in 2025. This shift has led to a significant correction in Bitcoin prices, with many analysts warning that this could be a sign of a bearish trend.
The Fed’s decision to scale back easing has sent shockwaves through the cryptocurrency market, causing Bitcoin’s price to drop sharply. Many traders are now scrambling to adjust their positions, with some calling for caution and others calling for more aggressive action.
Alex Dovbnya
Source: u.today
