Bitcoin Ronda the USD $ 118,000 and the market shakes prior to the Fed rates decision

By Hannah Pérez

The cryptocurrency market is restless before the decision of the Federal Reserve of the United States.

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The cryptocurrency market is restless before the Federal Reserve of the US Federal Reserve.
Bitcoin backed down the USD $ 118,000 but then jumped in a sudden movement.
The main cryptocurrencies replied the action, seeing falls and then modest profits in 24 hours.
The US Federal Reserve meeting on interest rates has the attentive market.
BTC’s sudden rebound occurred after the quarterly GDP report in the US.

Volatility in the cryptocurrency market is on the rise, with the primary pricing action becoming bassist before the United States Central Bank makes a key decision on interest rates.

Bitcoin (BTC) backed down in the morning on Wednesday to negotiate just below the USD $ 118,000 in the middle of a generalized bearish trend between the main cryptocurrencies, according to Coinmarketcap.

The second largest cryptocurrency, Ether (ETH) recorded a loss of more than 1% in 24 hours when it fell to a local USD $ 3,716 soil before a recovery. The price has now turned 0.80% bullish to negotiate in USD $ 3,800 at the time of editing. XRP also observed a similar drop and now earns more than 1% with a price of $ 3.13.

Other main digital currencies, including BNB, Solarium (SUN), Dogecoin (Doge) and Cardano (ADA), they saw decreases between 2.5% and 3% in the period, as the total capitalization of cryptocurrencies falls 0.58% in the last 24 hours.

The monetary policy decision of the Federal Open Markets Committee of the Federal Reserve (FED) seems to have restless cryptocurrencies. The market estimates that there is a 97% probability that the US central bank keeps interest rates unchanged, according to the tool Fedwatch of cme.

The estimate is aligned with the forecast of BlackrockHe said yesterday that he does not expect the FED to reduce reference rates at its July 30 meeting, suggesting that current economic conditions do not justify a cut, according to reports.

Restless investors for the Fed decision

The president of the FED, Jerome Powell, has been reluctant to apply cuts to the rates this year despite the insistence of President Donald Trump, arguing that he is monitoring the data due to the ability of tariffs to stimulate greater inflation.

Trump asked Powell’s resignation, he even threatened to fire him “Although he threw back,” and blamed the leader of the Central Bank for the refusal of the FOMC to cut the rates. The president, who visited Powell last week, has said that the Fed should help reduce the financial costs of national debt and unlock the real estate market with its high mortgage rates.

The perspective of a rate cut – a decision that could stimulate capital entry into risk assets markets such as cryptocurrencies – have been weighing, added to uncertainty regarding tariffs, on markets.

“With the tariff effects aimed at feeding corporate margins and consumer prices, the third quarter could mark a significant turning point“They wrote in a note cryptocurrency manager analysts QCP Capital, Singapore headquarters, Wednesday. “All eyes are placed in the Federal Reserve “.

Bitcoin is around USD $ 118,000 after GDP report

Cryptocurrency hesitation, specifically the sudden rebound Bitcoinalso coincided with the publication of economic data in the US. The Gross Domestic Product (GDP) grew at an annual rate of 3% in the second quarter, according to a report by the Department of Commerce, a change compared to the previous three months, when the GDP contracted at a rate of 0.5%.

Bitcoin Change hands around USD $ 118,400 at the time of writing these lines, 0.56% more in the day, according to Coinmarketcap. The liquidations in the cryptocurrency market emerged to USD $ 272 million in 24 hours, with more than USD $ 207 million corresponding to liquidations of long positions (bullish bets), according to data from data from Coinglass.

The president of the Federal Reserve, Jerome Powell, is expected to pronounce his comments Around 2 pm (ET).

Hannah Estefanía Pérez / Diariobitcoin

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