Fed expected to hike rates to 3.75-4% as markets await decision, bitcoin at $75,700
- —Probability of a 25 bps hike on Wednesday is 94.5% per CME FedWatch
- —Most banks expect 50 bps of tightening by year-end, some 75 bps
- —The 10-year U.S. Treasury yield hit 5.04%, the highest since 2007
- —Bitcoin at $75,700, key support at $73,200, with a possible slide to $71,000 below that
Why it matters: A rate hike and rising Treasury yields weigh on risk assets; Warsh's tone and the dot plot will determine the next move for bitcoin and altcoins.
Source: Cryptonews.net