FOMC Meeting Set to Test Bitcoin Bulls Amid 90% Rate Hike Expectation

The upcoming FOMC meeting is expected to have a significant impact on Bitcoin's price, with markets pricing in a roughly 90% probability of a 25-basis-point rate hike. However, despite this high expectation, the decision is not yet confirmed, and the actual outcome will be determined by the Fed's policy.

The Danske Research Team, which made this projection, also expects the FOMC to publish updated economic projections and a fresh set of rate projections, known as the dot plot. The vote count and any recorded dissents will provide further clarity on the committee's decision-making process.

For Bitcoin watchers, the meeting presents several key elements to monitor, including the rate decision, vote count, updated economic projections, and the dot plot. While market expectations strongly suggest a hike, it is essential to distinguish between market pricing and actual policy decisions.