While the US Federal Reserve (FED) is expected to announce one of its most critical data on January 31, all eyes are on the cryptocurrency market.
FED on Wednesday, January 31 2024 will announce the first interest rate decision of the year. According to CME FedWatch Tool data, the FED’s 97.9% probably interest keep it steady Waiting.
On the other hand, the possibility that the FED will cut interest rates next March is for now. 48% It is predicted as. The interest rate cut expectation, which is extremely important for the cryptocurrency market and other risk assets, has increased in recent weeks. around the Suez Canal happened geopolitics It was dragged into uncertainty accompanied by crises.
If the Suez Canal incidents, which caused a macroeconomic rift, are resolved in the coming days, this will probably strengthen the possibility of the FED’s interest rate cut in March.
However, even if the interest rate cut does not come in March until May at the latest is expected to be implemented. CME FedWatch Tool data for May 25 bases point interest rate reduction 50.1% chance knows.
The FED announced in December last year that in 2024 that there will be two interest rate cuts gave the signal, and this signal naturally reflected positively on the cryptocurrency market.