Bitcoin Weekly Outlook: Milder Swings Expected Around FOMC Minutes

Bitcoin exploded above $34,000 for the first time on Sunday, prolonging a record-shattering rally that yielded more than a 300 percent gain in 2020.

Bitcoin underwent a major downside correction hours after the Federal Open Market Committee (FOMC) released the minutes of its November 5-6 meeting on Wednesday.

Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes, while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in today’s session. Bitcoin Bitcoin (BTC) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which....

Yesterday’s FOMC meeting of the U.S. Federal Reserve (FED) brought less volatility to the Bitcoin market than many experts had expected. The Bitcoin price moved in a narrow range during and after the meeting. Ultimately, the Fed raised interest rates by 75 basis points, as expected. The FOMC statement said the Fed would “take into […]

Quick Facts: 1️⃣ The latest FOMC published minutes indicate general support for more rate cuts. 2️⃣ The ‘dual mandate’ remains in play, forcing the Fed to balance lowering inflation and increasing employment 3️⃣ The Fed’s move sets up the best crypto to buy now to build on the market’s momentum, with the potential for two […]