Why Bitcoin Could Trade Above $22,000 After Today’s FOMC Meeting

Bitcoin is poised to experience volatility during today’s trading session. The crypto market is gearing up for the U.S. Federal Reserve (Fed) Federal Open Market Committee (FOMC) meeting which could result in a no-event or push risk-on assets down. Related Reading | Shiba Inu Whales Trading Volume Surges 640% As SHIB Holds Critical Support During this meeting, the Fed is expected to announce a hike in interest rates. According to trading desk QCP Capital, the market has ruled out the possibility of a 100 basis points (bps) increase. Market participants expect a 75 bps, if the Fed meets expectations Bitcoin and other digital assets seem likely to resume their bullish momentum. QCP Capital said: Every FOMC meeting this year has seen a positive immediate market reaction to the rate decision. We expect the same for this one. In addition, the trading firm claims that there is a possibility of more upside based on the Fed adopting a “one-off 75 bps” hike. In the future, the financial institution could return to 50 bps on the back of a slow down in inflation metrics. Contributing to this theory, U.S. public companies earning season has reported under expectations without major surprises so far. Tomorrow, July 28th, Apple and other big tech companies are expected to publish their earnings reports. If there are no major surprises, the crypto market should benefit from both the FOMC meeting and a relief in legacy financial markets....