Bitcoin Drop Results in Substantial Losses for Crypto Investors

According to FedWatch, there is an almost certain expectation that there will be no change in interest rates on Wednesday. The chances of a definite rate reduction before December have decreased. Experts at Reuters predict that the Federal Reserve will only implement two rate cuts this year, with the initial one occurring in September. At the start of 2024, the average estimate for rate cuts by Fed members was 75 basis points, lower than the market’s expectation of a 150 basis point cut. Additionally, new three-year average interest rate forecasts will be revealed on Wednesday evening.