{"id":61242,"date":"2023-05-04T07:20:53","date_gmt":"2023-05-04T07:20:53","guid":{"rendered":"https:\/\/coinjournal.net\/news\/feds-decision-had-no-impact-on-the-crypto-market-yet\/"},"modified":"2023-05-04T07:20:53","modified_gmt":"2023-05-04T07:20:53","slug":"feds-decision-had-no-impact-on-the-crypto-market-yet","status":"publish","type":"post","link":"https:\/\/coinalsat.com\/en\/feds-decision-had-no-impact-on-the-crypto-market-yet\/","title":{"rendered":"Fed\u2019s decision had no impact on the crypto market \u2013 yet"},"content":{"rendered":"\n<ul>\n<li>Federal Reserve raised the funds rate by another 25bp<\/li>\n<li>Jerome Powell hinted at the end of the tightening cycle<\/li>\n<li>The US dollar did not move following the Fed&#8217;s decision<\/li>\n<\/ul>\n<p>The Federal Reserve of the United States (Fed) delivered its interest rate decision yesterday. It was, by far, one of the most important Fed meetings because of the tough job lying ahead of Chair Powell.<\/p>\n<p>It was all about communication. On the one hand, the Fed tightened financial conditions again by raising the funds rate by 25bp.<\/p>\n<p>On the other hand, it wanted to say that it was time to pause the rate hikes without the market understanding that rate cuts would follow. The market, however, priced in several rate cuts until the end of the trading year &ndash; something that Powell dismissed completely.<\/p>\n<p>However, it would not be the first time when the market forced the Fed to do something it did not plan to. Therefore, there is always a struggle to find the right balance between the appropriate monetary policy decision and the right way to deliver it.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/04\/04\/1683184718212-ae529565-a3f7-4eea-ad9f-f912b3a6432b.jpg\" style=\"width: 1800px\" class=\"fr-fic fr-dib\" width=\"1800\" height=\"488\"><\/p>\n<p><a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=CRYPTO\">Bitcoin chart by TradingView<\/a><\/p>\n<h2>The crypto market did not move following Powell&#8217;s press conference<\/h2>\n<p>The rate hike was largely priced in way before the Fed&#8217;s statement. However, the press conference was supposed to move markets.<\/p>\n<p>But it did not. The US dollar traded in a tight range, which was also obvious in the cryptocurrency market.<\/p>\n<p>Bitcoin, for example, moves in a tight range for the industry&#8217;s standards and is still trading at levels seen at the start of April.<\/p>\n<p>Part of the reason for the lack of activity might be attributed to Jerome Powell. He delivered a great press conference that left no doubts about the Fed&#8217;s intentions. Hence, both bulls and bears were content, and now the focus shifts to the jobs report on Friday.<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/feds-decision-had-no-impact-on-the-crypto-market-yet\/\">Fed\u2019s decision had no impact on the crypto market &#8211; yet<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"\n<p>Federal Reserve raised the funds rate by another 25bp Jerome Powell hinted at the end of the tightening cycle The US dollar did not move following the Fed&#8217;s decision The Federal Reserve of the United States (Fed) delivered its interest rate decision yesterday. It was, by far, one of the most important Fed meetings because [&#8230;]<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/feds-decision-had-no-impact-on-the-crypto-market-yet\/\">Fed\u2019s decision had no impact on the crypto market &#8211; yet<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":61243,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48,48],"tags":[],"class_list":["post-61242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fed\u2019s decision had no impact on the crypto market \u2013 yet - CoinAlSat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinalsat.com\/en\/feds-decision-had-no-impact-on-the-crypto-market-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed\u2019s decision had no impact on the crypto market \u2013 yet - CoinAlSat.com\" \/>\n<meta property=\"og:description\" content=\"Federal Reserve raised the funds rate by another 25bp Jerome Powell hinted at the end of the tightening cycle The US dollar did not move following the Fed&#8217;s decision The Federal Reserve of the United States (Fed) delivered its interest rate decision yesterday. 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