Bitcoin Price and Ethereum Predictions: How US FOMC Decision Could Impact the Crypto Market?
Traders are closely monitoring the upcoming Federal Open Market Committee (FOMC) meeting, which is scheduled for later in the day. The decision on US interest rates by the Federal Reserve could have an impact on the price of bitcoin, and therefore, market participants are eagerly anticipating the outcome of the meeting.
A ramble through the bramble, without any insights through the thickets.
It should be fairly obvious that, at the moment, Bitcoin is trading like a risk-asset and is correlated largely with excess liquidity - gambling money. The Fed is playing another sleight of money by helping their bankster brethren while shitting on the government and people - they are increasing liquidity with one hand while tightening it with the other.
There is a larger world out there beyond the USA, but the US Fed acts like the capo dei capi, so is worth watching, although the IMF says much more about the future directions of monetarist slavery. As the central banksters are spooking other banks into ditching cryptos, banksters are by nature greedy and the large investment banks are not going to ignore a sector of easy manipulation such as crypto.
All of which means, one should keep an eye on the data and take the words with a large dose of salt. Unfortunately, some metrics such as M2 and M3 are not readily available on a daily basis, which makes short-term trading tricky. The Fed is in danger of - or downright planning in - creating a stagflation environment that usually makes people more risk-averse.
However, I don't see Bitcoin being as yet so fluid as to be moved by "the people"; it is moved by derivatives and wealthy parties. This means the endgame is more important than each individual round. I don't see BTC as the final step, but more like the intermediate stage of what such an asset would feel like.
What will happen after the FOMC meeting? I dunno! These are not "rational actors", but rather malicious actors manipulating society, so their actions are less than predictable - and the consequences not always obvious.
this is part of mass adoption - mass manipulation by other financial entities.
Do people remember when Bitcoin wasn't glued to Fed pronouncements?