Thoughts on today's FOMC meeting?

Everyone on X (Twitter) is throwing around their predictions for today's FOMC meeting and how it might shake up the market. If the outcome is good for crypto, we could see Bitcoin hitting another all-time high, with altcoins likely following suit. I'm planning to go long on Bitcoin if things turn out in our favor. Also looking at IKA, thinking about making a small bet if Jerome Powell leans positive for cryptos. What do you guys think will happen today? Do you believe they’ll keep the rate the same, or are we looking at a cut?

I do not think any announcements will make bitcoin get to all time high for now because bitcoin is below the strong resistance price for now which it is needed to break before getting to all time high. Bitcoin needs to stay above $1200000 for a day or more to make it the support first. I do not care about any FOMC meeting today at all. The news will only have short term effect.

Bitcoin is back bullish on the 1-hour time frame, do you think the resistance will hold still or we will see a new ATH? What do you think of IKA or altcoins in general?

All I see is resistance at some prices above $118000.

Okay, let's see how it goes. Are you looking at altcoins?

Well, it was 50/50 yesterday. However, how the market would react to it is not guaranteed. If there is news I fear most in the markets, it is the interest rate and the FOMC meeting minutes. The speeches after the rate decision weighs more, which makes it complicated at times, especially when it was highly anticipated by Trump. The rate was kept on hold at 4.50% when it was released yesterday. I am sure this is in defiance of Trump's threat to Jerome Powell. But to be honest, the rate should have been cut, judging by the trend of the US inflation rate.

Honestly nothing out of the ordinary and as expected from the recent FOMC. The current BTC correction is due, its been hanging on to the distribution phase for quite sometime after the rally. The fact that there's no rate cut amplifies it a little bit. $110k looks like an interesting mark for long position in futures position though but I can be wrong, as long as there's no bad war I think the market looks pretty normal.

Although Jerome Powell is the Fed chairman but he does not have sole authority to make decisions on interest rates. Like any agency in the US, lowering or raising interest rates requires a vote and according to the news, there were 9 votes in favor of maintaining interest rates and only 2 votes in favor of lowering interest rates. Contrary to you, I think it is reasonable to maintain interest rates because the risk of a tariff war is still very unpredictable, it can become serious and destabilize the economy at any time. Lowering interest rates now would be useless if trade deals break down and cause global inflation. Trump needs to end the tariff war before he wants to lower interest rates. https://x.com/Investingcom/status/1950899704746705033

Looking at how it is moving today, I would say it doesn't look bullish or bearish to me. It's stable and at the moment not volatile. Maybe I am wrong and maybe it will do better, but just open up the cart and the price and you will see that nothing big is going on at the moment. I feel as if it is moving as well as it should, with the way things are moving. And if we can make this work, then I am sure that price will break over 120k eventually, just not looking like that currently. That doesn't mean it won't go up, it just mean it doesn't look like the movement will happen in the next few hours. However, in a week or so, who knows maybe we will be 120k+ again and then the price could be a lot better, we could reach to a better place.

This post was made July 30. I guess there was a bit of impact at that time. If you are using the forex calendar event like FOMC and CPI, or any event with red impact, there's a slight impact on the BTC price. According to the chart at that time, the BTC price after the FOMC is slightly bearish, meaning at that time some traders do short or sell, but it doesn't affect much since the BTC price is still in consolidation phase. I am waiting for any breaks in this trend. Since that news from the Forex calendar is mostly related only to Forex, I think we should only use it if we are looking for a volume because there's a slight impact to BTC and other crypto once they announce something, even if it's not related to crypto. Take note: from the image above, it looks like a bull flag created by the consolidation. So I am expecting an upcoming bullish trend later and a break the $120k zone.

If it is as simple as you stated, Trump would not dare attack any FED Chairman, but he knows that if he wants it done, it would be done. Fine, it's all about the decision and the votes of the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC), yet the position of the FED Chairman is powerful and influencing. He has the power to convince his colleagues to vote for a rate cut. Who knows if he is the one influencing the rate hold just to annoy Trump more?

FOMC consists of 12 members, including 7 governors and 4 presidents of the 11 presidents of the 11 Federal Reserve banks of the US. Powell is the 12th member and like the other members, he has only one vote. Of course, he can use his power and influence to convince other members, but if they refuse, there is nothing he can do. Like Trump's presidency, he has power, influence and the ability to persuade members of the Democratic Party. But the final decision is still theirs, what can Trump do to the Democrats if they vote against his bill? Not to mention, the Fed's mission is to maintain the strength of the USD, ensuring the US and world economies are always in the best condition without being politicized. Politics is much more complex and beyond our understanding. So I just discuss based on theory and constitution, I don't like to speculate, make assumptions because if discussed that way, anything can happen.

I think there's so much influence affecting the price of Bitcoin from the political view but then i presume a change resulting to a new ATH but how the market reacts to it isn't the issue but we hope for a bullish end that'll be more profitable in the end. But with the recent follow of trump cut down on price rate I wonder what the outcome would be like.