Major selling has ensued across the broader cryptocurrency market with the Bitcoin (BTC) price correcting 4% and dropping again to $65,000. At the same time, the correction in the altcoin space seems steeper with Ethereum and others correcting 7-8% and some others in double digits. The selling pressure comes just a day ahead of the crucial FOMC meeting scheduled for Wednesday.
FOMC and Central Banks Meeting
This week, on March 20, the Federal Reserve’s Federal Open Market Committee (FOMC) is scheduled to reveal its decision on interest rates, accompanied by a speech from Chairman Powell. As per CME data, there is a 99% probability that the interest rates will remain unchanged.
After the FOMC meeting, Jerome Powell’s remarks carry weight for risk assets. Investors are keen to decipher any hints he may offer. They anticipate insights into the Fed’s outlook on inflation and how it might influence the trajectory of Bitcoin.
After 17 years, the Bank of Japan has made a historic decisi
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