Bitcoin Higher Ahead of FOMC Announcement

“Today is set up for huge volatility, as the Federal Open Market Committee (FOMC) meet to announce their decision on how much they will raise rates by,” wrote Marcus Sotiriou, analyst at the U.K.-based digital asset broker GlobalBlock in a newsletter. “This event has led most investors to sell equities and crypto over the past month, as they fear a 50-basis point rate hike, which seems highly likely.”