Less than 5 minutes until the Federal Reserve releases its decision (2:00 p.m. Eastern time). Right now, the market is basically betting on a 25-basis-point rate hike, with the probability still sitting above 90% and barely changed. Looking at the current market action at this moment, you can practically see everyone’s risk-off sentiment written on their faces.
$BTC has fallen to $75,542 (-1.83%), and $ETH has dropped even harder to $2,380 (-2.42%). On the other hand, the gold token $PAXG is up strongly—$4,351 (+1.22%, and higher than earlier this morning). This wave of risk-off capital is moving fast.
Honestly, whether there will be a rate hike or not is basically a foregone conclusion. What’s really interesting is what happens in the 30 minutes after the announcement—will it be a “bad news is good news” bounce, or will Powell’s wording be too hawkish and scare everyone into continuing to run for cover? Don’t put your phone down—answer is coming right away. #FedRateWatch
$BTC has fallen to $75,542 (-1.83%), and $ETH has dropped even harder to $2,380 (-2.42%). On the other hand, the gold token $PAXG is up strongly—$4,351 (+1.22%, and higher than earlier this morning). This wave of risk-off capital is moving fast.
Honestly, whether there will be a rate hike or not is basically a foregone conclusion. What’s really interesting is what happens in the 30 minutes after the announcement—will it be a “bad news is good news” bounce, or will Powell’s wording be too hawkish and scare everyone into continuing to run for cover? Don’t put your phone down—answer is coming right away. #FedRateWatch
