The crypto market has been moving towards the north through October, while continuing its rally on November 1 as well. However, some investors as well as market pundits are bracing for volatility in the digital assets space ahead of the FOMC decision, which is scheduled later today.
The Federal Reserve is expected to announce its decision on the policy rate hikes while addressing the current economic health. The still-high inflation, although cooled, has weighed on the market sentiment through the year, wiping off significant gains from the global financial markets, let alone the crypto market.
Is Fed Going To Announce Further Rate Hikes?
Although the market is anticipating a dovish remark from the Fed officials, any other move might trigger a sell-off in the market. Notably, according to the CME Fedwatch Tool, the market is anticipating a 97.2% chance for the Fed to keep the policy rates at the current range of 5.25% to 5.50%, with only 2.8% odds of another 25 bps point hike.
Consider
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