Markets Hold Breath for Fed Rate Decision Amid Crypto Legislation Vote

Bitcoin has regained its footing above $78,000 as markets await three crucial central bank decisions and a U.S. Senate vote on crypto legislation.

The Federal Reserve is set to announce its decision on interest rates on Wednesday afternoon, with economists expecting a quarter-point increase.

This would lift the federal funds target range to 3.75% to 4.00%, although the committee has not confirmed its decision.

Goldman Sachs and JPMorgan have revised their forecasts to predict a 25-basis-point increase, with JPMorgan expecting another hike in December and Goldman projecting two rate cuts in 2027.