The Fed meeting is getting interesting.
Markets are now leaning strongly toward a 25 bp hike on September 16, which would take the federal funds target to 3.75%–4.00%. A Reuters economist poll puts the odds at 85%.
The bigger question for crypto is what comes after the hike. With oil above $100 and the 10 year Treasury yield above 5%, financial conditions are already getting tighter.
$BTC is holding around $77K despite that pressure. If the Fed sounds more hawkish, risk assets could stay under pressure. A softer message could give crypto some breathing room.
The hike is still an expectation, not a done deal.
$BTC
#FedRateWatch #bitcoin
#FedRateWatch
Markets are now leaning strongly toward a 25 bp hike on September 16, which would take the federal funds target to 3.75%–4.00%. A Reuters economist poll puts the odds at 85%.
The bigger question for crypto is what comes after the hike. With oil above $100 and the 10 year Treasury yield above 5%, financial conditions are already getting tighter.
$BTC is holding around $77K despite that pressure. If the Fed sounds more hawkish, risk assets could stay under pressure. A softer message could give crypto some breathing room.
The hike is still an expectation, not a done deal.
$BTC
#FedRateWatch #bitcoin
#FedRateWatch
