Reserve Dollar

Based

Jerome Powell

Reserve

<p>In just two days, on May 1st, the Federal Open Market Committee will meet to decide the fate of interest rates. As financial analysts fervently scrutinize the evolution of the bond markets in anticipation of this event, the crypto community is also holding its breath. Indeed, there is fear that bitcoin and other altcoins might succumb to the pressure.</p> 
<h2 id="h-crucial-fed-decisions-in-sight">Crucial Fed Decisions in Sight</h2> 
<p>Since June 2023, Jerome Powell had anticipated that <strong>the benchmark interest rates of the US Federal Reserve would remain high for “several years”</strong>. Based on the lack of improvement in the inflationary situation, <a href="https://www.cointribune.com/en/economy-the-fed-surprises-expectations-and-maintains-its-interest-rates/" target="_blank" rel="noreferrer noopener">the Fed Chairman has left doubts</a> about a possible downward revision of rates. Uncertainty <a href="https://www.cointribune.com/en/the-fed-unyielding-on-rates-bitcoin-under-pressure/" target="_blank" rel="noreferrer noopener">which weighs heavily on bitcoin and other cryptos</a>, subjected to constant pressure.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>This week, the United States is gearing up for economically significant events, with <strong>the highly anticipated Federal Reserve interest rate decision</strong> at the top of the list. Eyes are fixed on this deadline, as crypto analysts predict it is almost certain <strong>that</strong> <strong>the Fed will maintain rates at their current level</strong>, with a 95.6% probability. A decision that could play a crucial role in the future direction of the global economy, highlights <a href="https://coingape.com/bitcoin-and-altcoins-come-under-pressure-ahead-of-fed-interest-rate-decision-on-may-1/" target="_blank" rel="noreferrer noopener">CoinGape</a>.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://join.swissborg.com/r/frederEZU5" target="_blank" rel="noreferrer noopener">Buy your first cryptocurrencies with Swissborg</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">Ce lien utilise un programme d’affiliation</a> 
</div> 
<p>However, dark clouds are gathering on the horizon. Recent US economic data has cast a veil of uncertainty, with <strong>a GDP below expectations</strong>, pointing towards a possible economic slowdown. Meanwhile, the figures for the benchmark PCE index have revealed <strong>persistent inflation</strong>, raising delicate questions for the Fed.</p> 
<p>While some fear the possibility of <a href="https://www.cointribune.com/inflation-labandon-de-lobjectif-a-2/" target="_blank" rel="noreferrer noopener"><strong>stagflation</strong></a>, characterized by anemic economic growth and high inflation, these concerns remain speculative for the time being. Nonetheless, the market is reacting to this uncertainty, with revised expectations now only foreseeing <strong>one interest rate cut by 2024</strong>, in stark contrast to the initial more optimistic projections.</p>  
<div class="tradingview-widget-container tradingview--mini-chart"> 
 <div class="tradingview-widget-container__widget"></div> 
 <div class="tradingview--mini-chart--dark"> 
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script> 
 </div> 
 <div class="tradingview--mini-chart--light"> 
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script> 
 </div> 
 <div class="tradingview-widget-copyright">
  <a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div> 
</div>  
<p>In the meantime, in the cryptocurrency front, volatility is the order of the day. <strong>Bitcoin</strong> recorded <strong>a new correction of 2.2%</strong> last weekend, while altcoins were subjected to even more intense selling pressure, with <strong>the top ten alternative cryptos (ETH, TON, BNB, ADA, SOL, etc.) experiencing corrections of up to 10%</strong>.</p> 
<h2 id="h-bitcoin-and-altcoins-under-pressure">Bitcoin and Altcoins Under Pressure</h2> 
<p>The recent crypto market update has shown <strong>signs of compressed bitcoin volatility, moving from 70% to 50%</strong>. Parallelly, fears of further delays concerning Ethereum ETFs loom large. This atmosphere of uncertainty raises a burning question: is this a trend shift or merely a pause?</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://go.primexbt.com/click?pid=8658&amp;offer_id=12&amp;l=1594368336" target="_blank" rel="noreferrer noopener">Start trading Bitcoin with PRIME XBT</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">Ce lien utilise un programme d’affiliation</a> 
</div> 
<p>Attention turns to Hong Kong where <a href="https://www.cointribune.com/en/d-6-before-the-launch-of-bitcoin-and-ethereum-etfs-in-hong-kong-how-will-the-market-react/" target="_blank" rel="noreferrer noopener">Bitcoin and Ethereum ETF transactions will begin soon</a>. A palpable anticipation envelops crypto market players, who hope to see an opening for Asian institutional capital. </p>

The Fed is about to decide on rates: the crypto market is sweating!

Table of Contents

Cointribune EN

Other articles published on Apr 29, 2024

BREAKING: MicroStrategy Announces New Bitcoin Purchase – Here Are The Details

Anonymous Crypto Influencer Exposes Notorious Lazarus Group in Detailed Report

Unveiling a New Scam: Malicious Modification of RPC Node Links to Steal Assets

ADA Price Prediction – Can Cardano Reclaim 100 SMA and Rally?

Dede Price Prediction: DEDE Goes Ballistic With 61% Gain, But Investors Flock To This New AI Meme...

Poloniex WBTC Depreciation Imperils Justin Sun’s Empire

Join our free newsletter for daily crypto updates!