The Federal Open Market Committee will announce its July interest rate decision on Wednesday, which could influence Bitcoin and other crypto prices.
Bitcoin (BTC) is trading at $66,300, down from a high of $70,000 this week, while Ethereum is at $3,320. The total crypto market cap is $2.38 trillion.
Economists expect rates to remain unchanged between 5.50% and 5.25%. With inflation falling and unemployment rising, the Fed might signal a September cut.
Historically, Bitcoin thrives when rates are cut. However, the immediate impact on crypto prices may be limited as the rate pause is already priced in.
