[Analysis] "Bitcoin, accompanied by corrections in 5 of the 6 FOMC meetings held this year"
Summary
- It reported that in five of the six US Federal Open Market Committee (FOMC) meetings held this year, Bitcoin showed corrections.
- It stated that decisions on monetary policy by the Federal Reserve (Fed) have a strong impact on market sentiment.
- It reported that in this meeting, following hawkish remarks related to rate cuts, Bitcoin fell and at one point the $110,000 level was breached.
An analysis found that five of the six Federal Open Market Committee (FOMC) meetings held this year were accompanied by Bitcoin corrections.
On the 30th (local time), according to crypto asset (cryptocurrency) analyst Ali Martinez, five of the six FOMC meetings held this year were accompanied by Bitcoin adjustments, and only one meeting led to a short-term rebound.
This suggests that the Federal Reserve's (Fed) monetary policy decisions still have a strong influence on market sentiment. In particular, Bitcoin tended to undergo short-term corrections immediately after meetings where expectations for rate cuts weakened or hawkish remarks were reinforced.
In this meeting as well, Bitcoin fell after Jerome Powell, Chair of the Federal Reserve (Fed), made hawkish remarks about a December rate cut, and at one point the $110,000 level was breached. It is currently trading at $110,038.17, down 2.64% from the previous day according to CoinMarketCap.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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