Fed's Dovish Signal at Wednesday FOMC Meeting Could Benefit Bitcoin, Analysts Say

BTC0.86%
According to CoinDesk, analysts expect that any dovish signal from the Federal Reserve at Wednesday's FOMC meeting could benefit Bitcoin. CME FedWatch data shows a 70% probability the Fed will maintain current rates and a 30% chance of a 25 basis point rate hike. Block Scholes analyst Thahbib Rahman noted that Fed Chair Kevin Warsh's reduced forward guidance has increased market uncertainty. Bitcoin has gained approximately 6% so far in July, while the S&P 500 remains flat.
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