Btcnews on Nostr: Bitcoin ignored the outcome of the day before yesterday's Fed meeting On July 31, the ...
Bitcoin ignored the outcome of the day before yesterday's Fed meeting
On July 31, the regular meeting of the Federal Reserve ended, following the results of which the U.S. regulator kept the rate at the peak values of 5.25-5.5% per annum. It should be noted that the market was counting on just this scenario. Meanwhile, there were hints that the agency is considering the possibility of easing monetary policy in the short term. But despite this, the flagship crypto asset lost in price.
During the press conference, the head of the Fed adhered more to positive rhetoric. He noted that so far inflation is far from the target 2%, but there are clear signs of its steady slowdown. In parallel, the U.S. economy is growing steadily and at the end of the 2nd quarter of this year it added 2.8%. This surprised many experts, as few expected that this indicator would overcome the 2% mark. Unemployment has slightly increased, but it is still in the optimal range.
According to Jerome Powell, all this creates a favorable ground for the beginning of systematic easing of monetary policy. The official did not rule out that the key refinancing rate may be reduced by 25 basis points at the upcoming September meeting. However, he noted that everything will be carried out smoothly, and therefore do not expect a rate cut of 50 basis points at once.
Be that as it may, it is a positive factor for the main digital coin. However, it has reacted very weakly to the outcome of the Fed meeting and is currently trading steadily below the $65,000 mark.
If the FedWatch Tool metric is to be believed, the probability of a refinancing rate cut in September is estimated at almost 85%. Many experts emphasize that crypto investors are now remaining cautious and are concerned that the payout from Mt.Gox could put sharp pressure on the market.
Published at
2024-08-02 15:24:06Event JSON
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"content": "https://image.nostr.build/577ad213026a912dfd5aa090dfe4e3943a32af93d739d5fb0617326f4a2e708e.jpg\nBitcoin ignored the outcome of the day before yesterday's Fed meeting\n\nOn July 31, the regular meeting of the Federal Reserve ended, following the results of which the U.S. regulator kept the rate at the peak values of 5.25-5.5% per annum. It should be noted that the market was counting on just this scenario. Meanwhile, there were hints that the agency is considering the possibility of easing monetary policy in the short term. But despite this, the flagship crypto asset lost in price.\n\nDuring the press conference, the head of the Fed adhered more to positive rhetoric. He noted that so far inflation is far from the target 2%, but there are clear signs of its steady slowdown. In parallel, the U.S. economy is growing steadily and at the end of the 2nd quarter of this year it added 2.8%. This surprised many experts, as few expected that this indicator would overcome the 2% mark. Unemployment has slightly increased, but it is still in the optimal range.\n\nAccording to Jerome Powell, all this creates a favorable ground for the beginning of systematic easing of monetary policy. The official did not rule out that the key refinancing rate may be reduced by 25 basis points at the upcoming September meeting. However, he noted that everything will be carried out smoothly, and therefore do not expect a rate cut of 50 basis points at once.\n\nBe that as it may, it is a positive factor for the main digital coin. However, it has reacted very weakly to the outcome of the Fed meeting and is currently trading steadily below the $65,000 mark.\n\nIf the FedWatch Tool metric is to be believed, the probability of a refinancing rate cut in September is estimated at almost 85%. Many experts emphasize that crypto investors are now remaining cautious and are concerned that the payout from Mt.Gox could put sharp pressure on the market.",
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