FOMC - Bitcoin Holders Should Be Watching This Dot Plot At Today's FOMC Meeting | Benzinga
Wednesday’s highly anticipated Federal Open Market Committee (FOMC) meeting could set the stage for a bullish run in the cryptocurrency market if one important indicator aligns, according to a crypto analyst.
What Happened: Crypto analyst Ted highlighted the importance of today’s FOMC announcements, saying “the market is priced for 1-2 cuts by December.” He referenced the Federal Reserve’s previous indications from March, which suggested 2-3 rate cuts.
“Today’s new dot plot will provide insight into just how likely rate cuts in the U.S. are this year.”
The “dot plot,” a graphical representation of FOMC members’ rate projections, is a crucial piece of information for market participants.
2/ After today's new dot plot, we don't get another until September's meeting – so expect the market to hold onto this piece of information ...