Bitcoin traders are predicting flash BTC price moves despite almost unanimous market predictions as to what the Fed will do next.
Bitcoin (BTC) traders braced for classic volatility on July 26 as the United States Federal Reserve interest rate decision dawned.
“Let the games begin” for Bitcoin — FOMC day arrives
Data from Cointelegraph Markets Pro and TradingView showed BTC price action hovering near $29,200.
While barely moving since the start of the week, Bitcoin volatility was fully on market participants’ radar, with macro triggers just hours away.
As the first of these, the Fed rates announcement was tipped to spark erratic — if unreliable — short-term BTC price moves, in line with tradition.
Both the announcement itself and subsequent commentary from Fed Chair Jerome Powell were of interest on the day.
“The market has priced in a 25bps rate hike, and currently also believes this will be the last rate hike in a while,” popular trader Jelle told Twitter followers in part of his latest analysis.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.