MAY 5,2024
BY NR.BALOCH
Bitcoin price sways before the Fed announces its rate decision The price of Bitcoin (BTC) dropped to $59,500 on Binance in advance of the Federal Open Market Committee (FOMC) meeting tomorrow. With forecasts for stable interest rates, market players are ready for the Federal Reserve (Fed) to adopt a more aggressive attitude. Only 4.4% of analysts, according to the CME FedWatch Tool, foresee a rate cut—the first in more than ten years—while a commanding 95.6% expect rates to remain unchanged between 525 and 550 basis points. The Kobeissi Letter reports that there is a 36% chance, based on current market data, that there won’t be any interest rate decreases this year. It was just around 3% likely four months ago that present rates would be maintained. It is now anticipated that there will only be one decrease this year. Prior to now, the market
