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#power What will Powell say this Wednesday? Bitcoin and cryptocurrency investors are waiting.
It is likely that the Fed will not cut interest rates in May, but the speech of its president would shed light on what is to come in the coming months.
If the president of the US Fed signals that there will be interest rate cuts soon, the price of bitcoin would rise.
In general, no rate cuts are expected today.
The official's words after the interest rate announcements will impact the markets.
Today, June 18, the Federal Reserve of the United States (Fed) will announce whether it will cut or maintain the interest rate. The decision will be known at 14:00 (Washington DC time) after the meeting of the Open Market Committee (FOMC) and could have a direct impact on the price of bitcoin (BTC) and other financial assets.
Although the market already assumes that the interest rate will remain around 4.25%-4.50% annually, the focus is on the speech that Jerome Powell, the Fed's president, will give after the data is published. His words could provide clues about future cuts or the continuation of the current monetary policy.
If the market interprets the Fed's projections as favorable, it could push the price of bitcoin and cryptocurrencies higher.
Otherwise, if he maintains a cautious stance, that could create downward pressure on digital assets. In any case, a day marked by high volatility in the market is expected.