Fed's Interest Rate Decision Could Impact Bitcoin Volatility, Matrixport Says

IconCryptoNewsTerminal Staff18 Sep, 2024

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Fed's Interest Rate Decision Could Impact Bitcoin Volatility, Matrixport Says

Matrixport, a renowned cryptocurrency service provider, recently opined that Bitcoin (BTC) could experience heightened volatility following the impending interest rate decision by the Federal Reserve. Currently, BTC is encountering downward pressure within a triangle consolidation pattern. The highly anticipated speech from Fed Chairman Jerome Powell is widely expected to exert a significant influence on the future price trajectory of BTC and other cryptocurrencies. Notably, BTC has progressively evolved into a macro asset, demonstrating increasing alignment with broader macroeconomic trends.