Markets are holding their breath ahead of the Federal Reserve’s FOMC decision today. Crypto is no exception. Bitcoin and Ethereum have already started to twitch upwards, reflecting the broader tension across risk assets.
With rate cuts still off the table, crypto investors are unanimously asking: WTF is this traitorous guy Fed Chair Jerome Powell doing?!? Lower the rates; people’s lives are at stake here (and also my bags).
The common consensus among experts is that failing to cut rates here will be too slow and too late AGAIN.
He has the chance to fix his mistakes and cut preemptively. He had no problem cutting to help Biden. It seems the lack of rate cuts is pure politics.
Here’s our prediction for the upcoming FOMC decision today:
FOMC Decision Today: This Will Happen After Powell Refuses to Cut
To understand why Powell should cut rates, let’s zoom out and look at the US economy as a whole:
- Energy prices down (especially oil)
- Inflation gone (2.39%)
- J Powell refuses to cut rates anyway, dooming the American economy to endless stagflation, ostensibly, to mess with Trump.
People should be protesting in the streets.
(X)
Cutting rates takes about 12 months to actually affect the economy significantly. Powell absolutely needs to start cutting now, especially as China has just lowered rates 10 points and lowered the bank reserve ratio by 50 points.
Meanwhile, risk assets are watching for a crack in the Fed’s posture. A whiff of easing, and crypto could rip. So far FedWatch says no changes yet, but everyone knows it’s not today’s move—it’s the signal that matters.
Bitcoin Edging Higher, Testing Resistance
Bitcoin’s been bouncing between $93K and $97K all week, hovering near $96,490 on global charts while trading slightly cheaper in India at $94,875.
The next real test sits at $97,900. Break that, and $100K isn’t far off. Support’s holding around $93,700.
ETH pushed to $1,830 on Wednesday, not a breakout—but not backing down either. It’s holding the $1,800 line, a level 99Bitcoins traders are watching closely.
Altcoins like Ripple, Chainlink, and Avalanche are moving too, if only slightly. It’s not euphoria but everyone can tell this is the quiet before the storm.
Outlook and What’s Next
Despite rising tensions in the US economy, the crypto market cap added 1.5%, now touching $2.98 trillion. Still, altcoins are going nowhere fast—sideways trading that could lead to a crash after the FOMC.
The US government feels at odds with itself:
- Economic slowdown is coming; tariff impacts are probably just starting to be felt by businesses.
- The slowdown will lead to layoffs, which will lead to people pulling money out of stocks/crypto.
- A rate cut would inject much-needed liquidity but it won’t happen
Of course, this is the worst-case scenario, but for now, the market is teetering on a cliff.
DISCOVER: Best Meme Coin ICOs to Invest in 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Key Takeaways
- Markets are holding their breath ahead of the Federal Reserve’s FOMC decision today. Crypto is no exception.
- Cutting rates takes about 12 months to actually affect the economy significantly. Powell absolutely needs to start cutting now.
The post FOMC Decision Today: Bitcoin Breaks $97,500 While Altcoins Struggle to Keep Up appeared first on 99Bitcoins.
