Crypto:
30188
Bitcoin:
$69.831
% 5.19
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 69.831
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Bitcoin’s Rise and Fed’s Meeting at Wednesday

Fed, Bitcoin

As Bitcoin continues its recovery from recent volatility, investors are closely eyeing key economic indicators and central bank policy shifts that could influence its trajectory. Amidst this backdrop, the upcoming consumer price index (CPI) data for March, scheduled for release on Wednesday, looms large.

All Eyes are on the Meeting on Wednesday

The Fed has issued several warnings about persistent inflationary pressures, and the announcement of the CPI has raised concerns about when interest rate changes may occur in 2024. Since interest rate changes and inflation affect the overall market, market participants eagerly await the minutes of the Fed’s March meeting on this week’s Wednesday.

Affects of the Wednesday’s Meeting on Bitcoin’s Recovery

Meanwhile, Bitcoin’s recovery is bolstered by recent events and anticipation surrounding the upcoming halving event expected for April 20th. The halving, which occurs approximately every four years, will reduce the rate at which new Bitcoins are created, potentially exerting upward pressure on prices due to decreased supply.

Until the halving, for the continuation of BTC’s uptrend, the inflation rate of March, which will be announced in the Fed’s meeting on Wednesday, will be important since it will shape people’s expectations on interest cuts.

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