Bitcoin Prices and Ethereum Prediction; The US FOMC and Fed Rate Today
Bitcoin (BTC) and Ethereum (ETH) have been cruising along the market, with their prices staying above $23,000 and $1,500 respectively. This has contributed to an overall growth of the global crypto market cap which currently stands at $1.05 trillion, showing a 0.91% increase in the last 24 hours.
Despite this, traders appear to be reluctant to make any significant offers ahead of the US Federal Reserve's announcement. This article will focus on Bitcoin prices and Ethereum prediction, as well as the current US Federal Open Market Committee (FOMC) and Fed rate today.
Since the beginning of this year, the cryptocurrency markets have been stable and flashing green, which could be attributed to the Federal Reserve's potential dovish stance.
A deal signed by DekaBank with Metaco to begin providing digital assets to institutions will have a significant impact on the crypto market, in addition to the upcoming Federal Reserve interest rate hike.
The US dollar had weakened at the beginning of the trading session due to data suggesting that wage pressures had decreased, however, it later stabilized as investors anticipated the results of a Federal Reserve policy meeting.
The United States Federal Reserve is likely to increase interest rates by 0.25% on Wednesday, however, traders will be more focused on the press conference of Chairman Jerome Powell for clues regarding their long-term stance toward policy change.
Despite this, the dollar index, which gauges the value of the dollar against six other major currencies, slipped 0.029% to 102.060. The market experienced a 0.16% dip in the last trading session, partly because of the news that US labor costs had risen at the slowest rate in a year during the fourth quarter.
Investors will be
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