Bitcoin Price Prediction: What To Expect With Low Volatility, FOMC
Also Read: Tesla Retains Dogecoin As Payment Option; Removes Bitcoin advertisement According to the CME FedWatch Tool, a platform that assesses the likelihood that the Fed will change the target rate at the upcoming meeting, the market is fully confident that there will be a 25 bps hike from the current target rate of 500-525 bps. As many as 99.2% of respondents feel the US central bank will impose an interest rate hike in the July meeting. What Low Volatility Means For Bitcoin Price Currently, the top cryptocurrency’s volatility is at a six month low level, thanks to the recent sideways movement surrounding the news of financial giants like Blackrock filing for spot Bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC). Glassnode data shows that the last time Bitcoin price saw such a tight volatility squeeze was in January 2023, when the Crypto Market price saw a jump with Bitcoin itself recording a 30% rise. Also, historically, t...