Bitcoin Eyes Fed Meeting After Biggest Monthly Price Gain Since December 2020

[Tanimariya]

Goldman Sachs has moved forward its projection for the first Fed interest rate hike to July 2022. Bitcoin’s October rally appears to have put the cryptocurrency on a firm footing ahead of central bank meetings in the U.S., U.K., and Australia to assess the stickiness of inflation and determine policy response.

The top cryptocurrency rallied nearly 40% in October, hitting a fresh record high of $66,975 as investors cheered positive seasonality and the launch of futures-based bitcoin exchange-traded funds (ETF) in the U.S. That was the biggest single-month percentage rally since December 2020, according to CoinDesk data. Source Link