Bitcoin ($BTC )
Tomorrow at 2 PM UTC, the FOMC will announce its rate cut decision. Expectations are set for no rate cuts, and markets have largely factored this in. However, the real focus will be Federal Reserve Chair Jerome Powell’s press conference, starting 30 minutes later.
Since the last FOMC meeting, inflation has eased, but GDP growth has turned negative. These factors could lead Powell to adopt a dovish tone, signaling a more accommodative policy. Such a stance would likely boost risk-on assets like cryptocurrencies. Additionally, the Fed might signal the end of quantitative tightening (QT), which has been in place since 2022.
A bullish Fed outlook could spark a significant rally for altcoins, potentially marking a turning point for the broader crypto market.
