A Countdown to Tuesday's Fed Meeting
- The US Federal Reserve will consider raising bank interest rates at a meeting tomorrow and will announce the final result on Wednesday this week.
- Experts say that if the Federal Reserve keeps its word about raising bank interest rates in three stages and does not increase this number, we can hope for a temporary increase in prices.
- According to Quin Desk, Bitcoin, Atrium, and the digital currency market, in general, saw an increase in sales pressure today following the fall of the futures index in the US stock market.
- This shows that traders are looking to reduce their portfolio risk, as they did last week.
A few hours ago, the price of Bitcoin fell to $32,967, which is the lowest level since July 24 (August 2). However, technical indicators show that the market is in a state of saturation.
The price of bitcoin has fallen by more than 27% this month, and now the market is trying to stabilize at a certain price floor. The whales and big investors, however, have not shown much momentum so far.
Prices for atriums have dropped 10% in the last 24 hours, reaching their lowest level since July 28 at $2,200.The return of the main token of the Atrium network this month was also negative 38%.
Atrium, like Bitcoin, may soon see the death intersection on its chart: a bearish sign that breaks the 50-day moving average and the 200-day moving average. Bitcoin has lost more than $10,000 in value since the bearish cross formed earlier this month.
Bitcoin Price Chart (Moving Average in 1-Day Bitcoin/Dollar Market Summary)
Other well-known market currencies, such as Solana, Cardano, and Polkadot, have lost 12 to 15% of their value in the last 24 hours.
The resurgence of market pressure began after Goldman Sachs, one of the largest investment banks in the United States, announced that if inflation continued to rise in the country, the US Federal Reserve would likely accelerate its policies.
It executes its contraction. The escalation of tensions between the US and Russian governments has also increased sales pressure in high-risk asset markets, such as stocks and digital currencies.
There is a risk that the Fed will want to decide on contractionary policies at each of its subsequent meetings until the inflation situation in the United States changes.
The investment bank forecasts a four-stage increase in US interest rates of 0.25 percent. That means the Federal Reserve is expected to raise bank interest rates by 0.25 percent four times this year. In the central bank's futures market, however, forecasts are based more on a five-stage increase in interest rates.
Most experts expect the Federal Reserve to raise bank interest rates for the first time in March after holding three more sessions in a series of monthly meetings.
This is followed by three more sessions in a series of quarterly sessions for this government agency.
But now, if the US Federal Reserve sticks to its December talks on a three-stage increase in bank interest rates by no more than 2022, the conditions for a temporary price increase will be in place.
This month's meeting of the Federal Reserve will be held tomorrow, and the result and the officials' plans on how to increase the bank's interest rate will be announced at 23:00 (Tehran time) on Wednesday.