Traders Eager to Observe How the Fed’s Decision to Raise Interest Rates at the FOMC Will Play Out

Traders are paying close attention to the FOMC meeting, which will take place on February 1st. The event, a surefire cause of volatility, can have a big impact on the monthly candle before the BTC price action abruptly changes course. Experts predict that the mood of the cryptocurrency market as well as the price of BTC/USD will be significantly impacted by the results of the next conference.

Additionally, the FOMC is probably going to reduce the 50 basis point rate increases that were made in December and simply make a 25 basis point rise at its next meeting in February.

Few analysts are willing to publicly declare the latest Bitcoin bear market to be over. However, there’s still a lot of unpredictability in the market. It is also expected that the initial days after the FOMC meeting can be highly unpredictable.

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