The Fed is likely to deliver a second consecutive 75 basis point rate rise on Wednesday. Some analysts expect bitcoin to stay resilient after the rate hike. Reports godbole17
to drain liquidity to tamp down inflation. Crypto traders are split on how bitcoin would react to the rate hike.
The Fed's liquidity-sucking measures, such as rate hikes and balance sheet runoffs, have roiled asset markets in the past few months. Bitcoin has declined by over 50% since the central bank kicked off the tightening cycle in March. Trader and analyst Alex Kruger said the crypto market could see a small rally following a 75 bps rate rise but warned of a decline should the central bank surprise with a 100 basis point move. However, Fed officials had pushed back against a full percentage point hike earlier this month.The focus will be on how worried policymakers are about unemployment risks and the looming recession in Europe.
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