Result from the United States. The meeting of the Federal Reserve’s FOMC on October 31 and November 1, 2023 might slightly affect stock and Bitcoin prices. However, the important part of Fed Chair Jerome Powell’s speech is the comments about the future of the US economy, which could affect the market for traders.
Did the Fed raise interest rates. What happens next.
Traders and investors are currently pretty sure that the interest rate won’t go up at the next FOMC meeting. But there’s a chance it could go up on December 13, 2023, so Federal Reserve officials might warn about that beforehand. During the recent meetings, the officials made sure that the markets didn’t get too excited about the relaxed monetary policy. The head of the Fed said that most central bank officials think it’s a good idea to raise interest rates more if necessary. They will look at new information about inflation and unemployment to decide.
“Bitcoin’s Price Change”
Based on the CME FedWatch Tool, most people don’t think the Fed will change the Federal target rate at the next FOMC meeting. However, there is a small chance, about 1 in 5, that the interest rate will increase by 0. 25% from its current range of 550-575 basis points. So, if Powell hints at raising interest rates in his speech, it might cause Bitcoin, S&P 500, and Nasdaq prices to change.
Before,the price of BTC might not go up because of some important on-chain events, like when people who have had Bitcoin for a short time sell it to make a profit. We have to wait and see if the most popular cryptocurrency can get past the $35,000 level next week.