The Bitcoin price has been moving sideways over the past two days, but market participants expect volatility over today’s trading session. The U.S. Federal Reserve (Fed) will announce another interest rate hike during its Federal Open Market Committee (FOMC) meeting. Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022 At the time of writing, the Bitcoin price trades at $20,400 with sideways movement in the last 24 hours and a 2% profit over the previous seven days. In general, the crypto market is moving with the same sentiment except for Dogecoin (DOGE), which is trending on its own. Macros Forces Ready To Take Over The Bitcoin Price Action Market participants know and price in a new interest rate hike at 75 basis points (0.75% bps). The uncertainty revolves around the post-FOMC press conference. Traditional markets have the pre-FOMC meeting jitters. Crypto holding up quite nicely, absorption at the lows. The FOMC announcement is due in 1.5 hours time – that will be followed by the press conference 30 minutes later – be prepared for volatility! pic.twitter.com/vw3dC3u5cv — tedtalksmacro (@tedtalksmacro) November 2, 2022 During this event, Fed Chairman Jerome Powell and another high member of the financial institution will provide insight into their economic perception. The Fed representatives can stay within expectations, further hikes in 2022, exceed them, or announce a less...
