The Fed's April rate decision stays steady, and the crypto market is waiting for policy signals
At 2 AM Beijing time on April 30, the Fed will announce the April FOMC rate decision. The market expects the federal funds rate to remain unchanged in the 3.50%-3.75% range, with a 99.9% probability. This is also Powell's last policy meeting before stepping down.
This decision is a no-brainer, but the market is focused on the post-meeting statement and Powell's speech. Current U.S. inflation remains sticky, and the geopolitical conflicts in the Middle East are pushing oil prices up, leaving the Fed with little room for rate cuts in the short term. In a high-rate environment, the dollar and U.S. bond yields remain strong, putting noticeable pressure on crypto assets as risk assets.
Bitcoin has been oscillating around $77,000 recently, with market trading being cautious. If Powell sends out dovish signals, hinting at a rise in rate cut expectations, Bitcoin might rebound in the short term; however, if he maintains a hawkish tone, emphasizing the continuation of high rates, the crypto market is likely to experience narrow fluctuations, with altcoins facing greater correction pressure.
After this decision, the market will continue to monitor the Fed's subsequent policy path and the policy shift after the new chair takes over in May, with the crypto market still set to fluctuate with macro liquidity expectations. #BTC跌破$77K
At 2 AM Beijing time on April 30, the Fed will announce the April FOMC rate decision. The market expects the federal funds rate to remain unchanged in the 3.50%-3.75% range, with a 99.9% probability. This is also Powell's last policy meeting before stepping down.
This decision is a no-brainer, but the market is focused on the post-meeting statement and Powell's speech. Current U.S. inflation remains sticky, and the geopolitical conflicts in the Middle East are pushing oil prices up, leaving the Fed with little room for rate cuts in the short term. In a high-rate environment, the dollar and U.S. bond yields remain strong, putting noticeable pressure on crypto assets as risk assets.
Bitcoin has been oscillating around $77,000 recently, with market trading being cautious. If Powell sends out dovish signals, hinting at a rise in rate cut expectations, Bitcoin might rebound in the short term; however, if he maintains a hawkish tone, emphasizing the continuation of high rates, the crypto market is likely to experience narrow fluctuations, with altcoins facing greater correction pressure.
After this decision, the market will continue to monitor the Fed's subsequent policy path and the policy shift after the new chair takes over in May, with the crypto market still set to fluctuate with macro liquidity expectations. #BTC跌破$77K