Today marks a significant day for the cryptocurrency market.
The Federal Open Market Committee (FOMC) will announce its rate decision at 2:00 PM ET, followed by a press conference with Governor Warsh at 2:30 PM ET.
Current market expectations indicate a 93.4% probability of a pause in rate changes, with a 6.6% likelihood of an increase.
Two potential scenarios may unfold:
- Should Governor Warsh adopt a dovish tone, the market is likely to experience an upward movement. - Conversely, if he suggests the possibility of additional rate hikes, a downward trend may occur.
The United States Treasury is set to repurchase up to $6 billion in long-term debt tomorrow. This development is expected to have a positive impact on Bitcoin ($BTC ).
🚨 THE NEXT WEEK COULD BE VERY DANGEROUS FOR GLOBAL MARKETS.
Several major events could trigger massive market volatility next week.
MONDAY: U.S. markets reopen after Trump's warning of another strike on Iran. Brent crude oil is already near $117.
TUESDAY: U.S. employment, housing, and consumer confidence data.
WEDNESDAY: FOMC decision and Kevin Warsh press conference. Rates are expected to remain unchanged, but the Fed could hint at future hikes.
THURSDAY: U.S. PCE inflation and GDP data. Inflation is estimated at 3.6%, up from 3.4%, and with rising oil prices, another upward shock could happen.
FRIDAY: Japan unemployment and U.S. wage inflation data.
All this comes just days before the U.S. midterm elections.
Oil is surging, inflation fears are rising, and AI spending concerns are growing.
If inflation comes in hot and the Fed signals more rate hikes, stocks, metals, and crypto could face a major selloff.
Bitcoin ($BTC) has already experienced some liquidity being swept below the $80,000 mark. Currently, significant liquidation clusters are positioned above at $84,500 and $87,000. Should Bitcoin continue to rise, these levels may initiate a substantial short squeeze. Liquidity tends to act as a magnet. The subsequent developments are clear..