#FOMCMeeting

With the Federal Open Market Committee (FOMC) meeting on Tuesday and Wednesday, markets could see volatile price swings toward key BTC price levels over the next few days. The policy decision on the interest rate will be made on Wednesday at 2.00 pm ET.

99.9% chance interest rates won’t change

There is a 99.9% chance that the current interest rates will remain between 4.25% and 4.50%, leaving just a 0.1% probability of a 0.25% rate cut, according to CME’s FedWatch tool.

Fed target rate probabilities for June 18 FOMC meeting. Source: CME Group

However, market participants say that any bearish price action from unchanged interest rates is already priced in.

Market participants have now turned their focus to Jerome Powell, to the US Fed chair’s speech after the FOMC meeting. The Federal Reserve and Powell are under pressure from US President Donald Trump to lower interest rates.

Therefore, the market will keenly watch Powell’s language at the FOMC news conference to see if there is any shift in tone.