Bitcoin Price Faces Pressure Prior to and After the FOMC Meeting Minutes Announcement

Before and right after the announcement of the minutes from the Federal Open Market Committee (FOMC) meeting in June, the price of Bitcoin was under selling pressure, dropping to as low as $30,225. After this pullback, the king of crypto rebounded above the intermediate support of $30,500, leaving investors wondering what’s next for BTC. FOMC Minutes Caused a Dip in the Crypto Market The crypto market, along with global markets, had its eyes on the minutes of the FOMC meeting from June, which was announced on July 5th. The standout details from the revealed FOMC meeting minutes were as follows: Some participants stated they could support a 25 basis point interest rate increase. All participants agreed that the target interest rate should remain unchanged. Participants maintained a mild recession expectation towards the end of the year. All participants supported the continuation of tight monetary policy. Nearly all participants agreed that […] The post Bitcoin Price Faces Pressure Prior to and After the FOMC Meeting Minutes Announcement appeared first on COINTURK NEWS.