Very Attention This Week! –

Economists, Fed officials, Wall Street experts share their views on whether the Fed will raise interest rates by 25 basis points on February 1. Ahead of the meeting, Bitcoin (BTC) broke the new year’s record with a long liquidation of $ 46 million. Bitcoin (BTC) price and detailed market data from here you can see.

Experts’ expectations regarding the Fed rate decision

The Fed will announce another major rate hike decision at its FOMC meeting on February 1 that will guide the market direction and the economy, at least in the first quarter. The market, which increased interest rates by 425 basis points last year with 75 basis points and 50 basis points increases four times in a row in December, expects the interest rate hike to be announced on Wednesday, with a further slowdown by 25 basis points.

Former Fed Vice Chairman Roger Ferguson expects 25 bases from this month’s FOMC meeting. He believes Fed Chairman Jerome Powell will consider cooling inflation, but is still far from the 2% target set for two moves this year.

Experts are confident the Fed will raise interest rates by 25 basis points.

Fed officials predicted they’ll stop when interest rates rise above 5% in December, but Wall Street experts expect slightly below that level. Fed Board member Christopher J. Waller argues that the Fed needs semiannual data, not quarterly positive data, to assess a change. Thus, the Fed will actually stop the rate hikes before its meeting on May 2-3.

Brett Ryan, a senior US economist at Deutsche Bank, is among the experts expecting a 25 basis point increase. Mohamed A. El-Erian, an Egyptian-American economist and President of Queens’ College in Cambridge, said he would be “shocked” if the Fed did anything other than raise interest rates by 25 basis points this week. However, due to risk management on the policy side, a 50 basis point rate hike should also be considered.

Bitcoin sees biggest long liquidation of 2023 ahead of meeting

The extreme volatility of BTC price sees $46 million of long Bitcoin positions evaporate in a single day before the monthly close. With just a few hours until the monthly close, the stakes remain high for long and short traders. This will be followed by the Fed’s interest rate decisions on February 1 and the European Central Bank a day later.

Ahead of the critical dates, liquidations increased significantly despite Bitcoin maintaining a fairly narrow range. The trip to $22,500 led to long liquidations of $46 million on Jan. 30, the highest daily total for 2023 so far, according to data from Coinglass.

Meanwhile, other data from on-chain analytics resource Material Indicators highlights the tense situation in the Binance order book. The buying and selling liquidity has remained in flux with gradual ups and downs that have had a tangible impact on the BTC price trajectory. Orders just under $22,000 and demands at $24,000 kept BTC/USD in check.

Warning From Bitcoin Masters: Very Attention This Week!

“It is worth noting that this is the same quote block that has been pushing the BTC price for weeks and could get bumpy as it tends to move,” Material Indicators tweeted on Jan.

Bitcoin could test 2017 highs as final support

Continuing the analysis, it is stated that the position of liquidity is “no coincidence” and Bitcoin’s ATH level in 2017 has been chosen as the “last mainstay” support zone.

Warning From Bitcoin Masters: Very Attention This Week!

The latest situation of Bitcoin, the Fed meeting and its effects on the market

The crypto market witnessed a spectacular rebound in January amid expectations that a Fed would change its rate policy amid cooling inflation and positive employment data. Bitcoin price rallied 40% per month, reaching $23.8k.

If the Fed raises interest rates by 25 basis points and Powell points to a dovish approach and economic recovery, Bitcoin price is likely to exceed $25,000, according to experts. However, a rate hike of 50 basis points could cause crypto prices to plummet. We have stated that the crypto money market reacted positively to the US economic data of last week.

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