Bitcoin Traders Anticipate Fed Policy Shift Ahead of FOMC Meeting
- Bitcoin’s intraday price movements narrowed to just 2% on October 21 and 3% on October 22, indicating low volatility.
- Analyst Maartunn described the current market setup as a ‘typical squeeze’ before significant market breaks.
- JPMorgan and Goldman Sachs predict the Federal Reserve will announce an end to its Quantitative Tightening (QT) program this week, potentially increasing liquidity.
- Bitcoin is currently trading around $111,631, up 4.85% over the past week and nearly 20% year-to-date.
- Analyst Michaël van de Poppe expects Bitcoin to reach a new all-time high in November, with Ethereum potentially hitting $5,000.
The upcoming Federal Open Market Committee meeting is pivotal for Bitcoin traders, as analysts anticipate a shift in monetary policy that could boost liquidity in financial markets, including crypto assets like Bitcoin and Ethereum.
With Bitcoin’s recent stability and gains of nearly 20% year-to-date, traders are positioning themselves for potential bullish outcomes following the Fed’s announcement on QT.(Source)
