Bitcoin preps for FOMC comments as BTC price coils near $103K
Bitcoin coils below $103,000, but dovish comments from this week FOMC could send BTC price to new highs.
After a brief drop below $100,000, Bitcoin’s (BTC) price closed its daily candle at $102,000 on Jan. 28. Over the past 24 hours, the crypto asset has consolidated above the six-figure range, as the market braced itself for the upcoming Federal Open Market Committee (FOMC) meeting.
Target Rate probabilities for Jan. 29 Fed meeting. Source: CME
CME’s FedWatch tool has predicted that there is a 99.5% chance that the Fed will keep its interest rates unchanged at 4.25% to 4.50%.
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Author: Biraajmaan Tamuly
