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Bitcoin battles with 24k ahead of FOMC minutes

Bitcoin continues its decline on Feb. 22, down 2%.

James Van Straten
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James Van Straten
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Quick Take

  • Bitcoin fell 2%  on Feb. 22 as markets began anticipating the upcoming FOMC minutes report.
  • The FOMC minutes will be released at 2 PM ET.
  • It is a transcript of what was discussed at the last fed meeting with all fed members when they raised interest rates by 25 bps.
  • It will examine a stronger-than-expected economy and how much interest rates need to rise.
  • Fed funds rate current target rate is 4.50 – 4.75%, with a 76% chance of a 25 bps rate hike and a 24% chance of a 50 bps raise at the March meeting.
  • As of one month ago, it was a 0% probability of a 50 bps rate hike.
CME fed watch tool: (Source: CME Group)
CME fed watch tool: (Source: CME Group)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Bitcoin BTC (24h)
$68,516.35 -1.77%
Market Cap $1.37T
24H Volume $33.63B