Market updates
Bitcoin Trump rally could wane ahead of end-Jan FOMC meeting
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2025-01-06 | 5m
10x Research’s founder Markus Thielen said the Federal Reserve’s decisions remain Bitcoin’s “primary risk” of slowing it from another price surge. A Donald Trump-led Bitcoin rally — expected to occur in the days leading up to his Jan. 20 US presidential inauguration — could wane toward the end of the month as the Federal Reserve publishes its first interest rate decision of the year.
In a Jan. 5
report, 10x Research’s founder Markus Thielen predicted a “positive start” in early January would be followed by a slight pullback ahead of Consumer Price Index inflation data on Jan. 15, before rallying again ahead of Trump’s inauguration. “A favorable inflation print could reignite optimism, fueling a rally into the Trump inauguration,” Thielen said of a potentially positive CPI result. “However, this momentum may wane, with the market likely retreating somewhat ahead of the FOMC meeting on January 29,” he said.
CME Group’s FedWatch tool currently
shows an 88.8% chance the US federal target rate will remain between 425 and 450 basis points following the FOMC’s Jan. 29 meeting. Bitcoin fell nearly 15% to around $92,800 after the FOMC meeting on Dec. 18, when it trimmed the number of 2025 projected interest rate cuts from five to two.
Source:
CoinTelegraph
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