“It’s officially Fed week, the week we’ve all been waiting for,” exclaimed macroeconomics outlet The Kobeissi Letter on March 17.
Markets anticipated as many as seven rate cuts in 2024 just three months ago, it added before stating:Interest rates in the US are currently 5.5%, which has been the case since July 2023 as the central bank grapples with inflation. On March 17, crypto trader and analyst ‘Rekt Capital’ wrote that Bitcoin would officially enter the “Danger Zone” this week, where historical pre-halving retraces have begun.
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