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UNI token surges while rest of crypto market looks to Fed's Warsh for guidance
Key takeaways
- The largest cryptocurrency pulled back below $65,000 after trading near $67,000 just a day earlier, CoinDesk data show.
- “The main focus for the week is the FOMC meeting under new leadership, with market expectations of interest rate hikes already priced in through 2027,” Laser Digital said in its weekly note.
- The market is pricing in no change in the fed funds rate at this meeting.
The largest cryptocurrency pulled back below $65,000 after trading near $67,000 just a day earlier, CoinDesk data show. The broader market CoinDesk 20 Index (CD200) has lost 1.2% since midnight UTC, with all but four tokens declining.
“The main focus for the week is the FOMC meeting under new leadership, with market expectations of interest rate hikes already priced in through 2027,” Laser Digital said in its weekly note.
The market is pricing in no change in the fed funds rate at this meeting. Instead, the focus will be on Warsh’s post-meeting press conference for signals on his views on inflation. Warsh has criticized the Fed's frequent press conferences and detailed forecasting and may face questions on his stance.
Article preview — originally published by CoinDesk. Full story at the source.
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