Bitcoin Weekly Outlook: Milder Swings Expected Around FOMC Minutes

Bitcoin exploded above $34,000 for the first time on Sunday, prolonging a record-shattering rally that yielded more than a 300 percent gain in 2020.

Bitcoin underwent a major downside correction hours after the Federal Open Market Committee (FOMC) released the minutes of its November 5-6 meeting on Wednesday.

Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes, while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in today’s session. Bitcoin Bitcoin (BTC) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which....

Yesterday’s FOMC meeting of the U.S. Federal Reserve (FED) brought less volatility to the Bitcoin market than many experts had expected. The Bitcoin price moved in a narrow range during and after the meeting. Ultimately, the Fed raised interest rates by 75 basis points, as expected. The FOMC statement said the Fed would “take into […]

This week's economic calendar is dominated by the Federal Open Market Committee Statement on Wednesday. Markets are on tenterhooks following better than expected US Unemployment Claims data last Thursday and their implication for an imminent Fed rates increase. Commodities continue their decline since last week and equities are now beginning to teeter on the edge. Stakes are raised in the deflationary end game of decades of credit expansion. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators. World Indexes and Forex Rates.....