In the whimsical world of cryptocurrency, few things evoke the same level of buzz as a new presidential victory—especially when it’s by none other than a pro-crypto Republican candidate like Donald Trump. Since his triumph in November, Bitcoin has surged a breathtaking 47%, transforming the market into a buzzing hive of activity as investors clamor to ride the wave. But just as we bask in the glow of this bullish rally, a shadow looms on the horizon: the impending Federal Open Market Committee (FOMC) meeting, a potential game-changer that could halt Bitcoin’s meteoric rise. How will the Federal Reserve’s decisions on interest rates impact this rally, and can Bitcoin weather the storm? Join us as we dive deep into this intriguing intersection of politics, economics, and cryptocurrency. LEARN MORE.
A recent report by digital assets research firm 10x Research highlights that the US Federal Reserve’s (Fed) stance on interest rate cuts remains the most significant hurdle that could dampen the current Bitcoin (BTC) rally.
Bitcoin’s Trump-Fuelled Rally At Risk Ahead Of FOMC Meeting
Since pro-crypto Republican candidate Donald Trump secured victory in the November presidential election, Bitcoin has climbed an impressive 47%, rising from approximately $67,500 on November 4 to around $99,700 as of January 6.
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While further gains are anticipated during the so-called “Trump rally” leading up to the January 20 inauguration, the momentum might stall ahead of the Federal Open Market Committee (FOMC) meeting later in January, says 10x Research’s Markus Thielen.
