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Bitcoin holds above $63,000 as Fed decision prompts rate-hike odds
CME FedWatch data shows the market assigns about a 70% chance the Fed leaves rates unchanged and a 30% chance of a surprise 25-basis-point hike.
Bitcoin is holding steady above $63,000 ahead of the Federal Reserve decision on Wednesday, even as traders remain split on whether policymakers will hike rates.
According to CoinDesk, markets are pricing roughly a 70% probability the Fed keeps rates unchanged and a 30% chance of a surprise 25-basis-point hike, with uncertainty tied to Fed Chair Kevin Warsh's reduced use of forward guidance, according to derivatives analytics firm Block Scholes.
CoinDesk reports that bitcoin has been less affected by the current risk-asset jitters than AI-linked technology and semiconductor stocks, which have slipped again ahead of the FOMC meeting. The outlet cited analysts saying bitcoin's correlation with equities has weakened, implying this week's meeting may have a smaller impact on crypto than on traditional stocks.
CoinDesk also noted bitcoin is up about 6% for the month, while it recovered from intraday losses to trade flat just below $64,000 on Tuesday, as the divergence between stocks and bitcoin has become more pronounced this month.
Latest closeBitcoin $63,547.54 ▼0.3%