Bybit Flags Unpredictable Bitcoin Price Swings Ahead of FOMC Meeting
Bybit, one of the world's largest crypto exchanges, is warning traders that Bitcoin price swings could be sharp around the upcoming Federal Open Market Committee (FOMC) meeting scheduled for September 15 and 16. According to Bybit's analysis of 40 FOMC meetings between 2022 and 2026, the first five minutes after each announcement saw a nearly even split in price movements: roughly half of the meetings saw Bitcoin jump, while the other half saw it drop.
The exchange is urging traders to use short-term trading tools rather than assuming a predictable direction. Bybit notes that trading volume has stayed thin heading into the meeting, indicating that many traders are waiting on the sidelines for clearer signals from the FOMC decision.
Bitcoin was trading near $78,100 on September 14, with markets pricing an 87% chance of a quarter-point Fed rate increase. The upcoming decision is expected to have a significant impact on Bitcoin's price movement, and traders are advised to stay informed and adjust their short-term strategy accordingly.