Crypto Investors are waiting for the Federal Reserve meeting to find out what roadmap the US central bank has planned for its bond-buying program. Fed‘ is likely to announce that it will cut its bond purchases more quickly, but more specific concerns about inflation could sway the markets.
Jigar Trivedi, commodities analyst at Mumbai-based broker Anand Rathi Shares, said: “Overall, the market is in a wait-and-watch mode for the December 15 Fed result.” said.
BTC At the time of writing, traders place buy orders in the $44,500-$46,000 range. bitcoin It is trading above $48,000.
After the Fed meeting on December 15, Bitcoin price could complete its current correction and start to rise on the basis of “Sell The Rumor, Buy The News”. At least some market experts think so. Michael van de Poppe is one of the analysts who hold this view.
Sell the rumour, buy the news.
— Michaël van de Poppe (@CryptoMichNL) December 14, 2021
A similar scenario is emerging based on the analysis of the Bitfinex exchange BTC order book.
“It looks like we will be getting a Get the News event.”
Bitfinex laying down bids
Retail selling into the lows ahead of FOMC Meeting with funding negative across the board
Feels like we’re going to get a Buy The News event #Bitcoin $BTC pic.twitter.com/9Z69rJuL0T
— Zen (@Zen_Trades1) December 14, 2021
On December 15, the Biden administration will release the report on the dynamics of consumer prices for November. After the report Fedwill present the current economic forecasts by summarizing the meeting results, followed by the press conference of Federal Reserve Governor Jerome Powell. In his speech to the Senate on November 30, Powell refused to interpret the increase in inflationary pressures as “temporary”. He also pointed to the possibility of reducing bond purchases “a few months earlier than expected”.
Fed’s tightening policy expectation, traditional markets and bitcoinpushed it to a moderate fix. How the Fed will decide at this point is eagerly awaited.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.