As the market braces itself for the Federal Reserve’s imminent announcement regarding its monetary policy, speculations are rife about the potential impact on Bitcoin and crypto. Based on Grayscale’s recent analysis by Zach Pandl, today’s announcement could be the critical juncture the Bitcoin and crypto community has been awaiting.
In the aftermath of the COVID-19 crisis in 2020, the Federal Reserve embarked on a path of significant monetary easing to reignite the US economy. Their initial stance was one of unwavering support: “The Federal Reserve committed to overstimulating the US economy–with hopes to avoid the sluggish recovery that followed the 2008-2009 financial crisis.” This decision saw a bolstered Bitcoin and other cryptocurrencies in 2020.
However, as Pandl points out, the tide seemed to turn in mid-2021 when the Federal Reserve had a revelation: “[The Fed] seemed to realize it was overdoing it.” What followed was a series of the most “largest and steepest
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