Hassan Maishera
TL;DR
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Bitcoin has maintained its price above the $27k level ahead of today’s Fed rate decision.
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The Federal Reserve is widely expected to hold interest rates steady.
Bitcoin Hangs On To The $27k Level
Bitcoin, the world’s largest cryptocurrency by market cap, has maintained its price above the $27k level. BTC is up by 1% over the last 24 hours and is now trading at $27,088 per coin.
The leading cryptocurrency has maintained its price above $27k as investors eagerly await the Federal Reserve’s interest rate decision later today. The US Fed is expected to hold its benchmark fed funds rate steady at a range of 5.25%-5.50%.
However, investors would be focused on the Fed’s updated economic projections and Chairman Jerome Powell’s post-meeting press conference for clues about the future direction of monetary policy.
Market analysts expect the interest rates to remain stable, with the next FOMC meeting set to take place in November.
Toncoin has continued its rally and is now one of the ten largest cryptocurrencies by market. At press time, the price of TON stands at $2.50, up by more than 3% in the last 24 hours.
The total cryptocurrency market cap also stands at $1.07 trillion, up by less than 1% so far today.
