The day after tomorrow, Wednesday 26 July 2023, a decision is expected from the Fed on rates, and today the value of Bitcoin is on a downward move.
Indeed, the markets take it almost for granted that the Fed will announce a new 25 basis point increase on Wednesday, so much so that such a decision has already been widely discounted by the markets.
Therefore, this is hardly the reason that drove the price down today.
Bitcoin value down in anticipation of Fed rates
Today opened with Bitcoin’s value around $29,800, but over the course of the day it fell all the way below $29,200.
The descent was sudden, with a single jump from $29,700 to $29,000 in the space of just two minutes. However, there does not appear to have been a single piece of news that triggered this drop.
However, such a downward slide was in the air, with several analysts having speculated about it in recent days.
Furthermore, this morning, with the US markets closed, European markets went into a bit of a tai
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