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Bitcoin and Altcoins Eyes on the Interest Decision to be Announced Today at 21.00! What to Expect?
Bitcoin and altcoin are waiting for today's Fed interest rate decision. The cryptocurrency market is facing significant selling pressure as market sentiment shifts towards risk aversion ahead of the interest rate decision from the Federal Open Market Committee (FOMC) meeting. With current data, the largest cryptocurrency Bitcoin is struggling to hold on to the $60,000 threshold with a decline of over 5 percent.
What will the Fed do?

As it is known, there is a significant change in market expectations regarding the Fed's interest rate adjustment. At the beginning of the year, it was predicted that the Fed would make multiple rate cuts throughout the year, but this prediction has changed and now the Fed is expected to make only a single rate cut by December.
Wall Street's leading banking institutions have different views on the timing of the Fed's first rate cut. JPMorgan and Goldman Sachs predict that the first rate cut will be made in July, while Wells Fargo predicts that it will be in September. On the other hand, Bank of America predicts that the first rate cut will not occur until December. Amid differing forecasts, some Fed policymakers are even raising the idea of a rate hike, further complicating the situation.

Analysts say strong inflation data will push the Fed to maintain a high-interest rate environment for a long time, but there are concerns that this approach could potentially lead to stagflation, reducing GDP growth.
The Fed interest rate decision will be announced today at 21:00 CET, and according to the data of the CME FedWatch Tool, there is a 98.9% probability that the interest rate will be left constant at 5.50%. After the announcement of the Interest decision, eyes will be on Fed Chairman Jerome Powell's press conference, which will start at 21:30 CET.

What Can Happen in Bitcoin and Altcoins After the Fed Interest Decision

Financial advisor Kurt. S. Altrichter stressed that the Fed is focusing on two scenarios. Accordingly, the Fed will either keep interest rates at current levels by keeping them unchanged or reduce them. Altrichter assesses that if interest rates are kept unchanged, stocks will find support and rise, albeit limited. In the opposite scenario, if the Fed is dovish, it predicts that US Treasury yields will fall and Bitcoin and altcoin will rise along with the S&P 500.

Crypto the money market is currently facing downward pressure, especially altcoin, amid growing concerns about the Fed's stance on interest rates ahead of the FOMC meeting. The rise in the U.S. dollar index adds to the uncertainty in the market, indicating a flight from risky assets. However, the medium- and long-term outlook for the cryptocurrency market remains in a certain balance, with short term pressures stabilizing with the expectation that assets will outperform against the backdrop of high interest rates and persistent inflation, as in the Bitcoin and altcoin.

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