• The Federal Open Market Committee (FOMC) meeting on March 22 is expected to be the most important of the year.
• The U.S. Dollar Index (DXY) will remain the main indicator for Bitcoin and crypto market movements.
• QCP Capital, a leading digital asset trading firm in Asia, has released a new market analysis related to the current macroeconomic environment ahead of this week’s data releases.
Important FOMC Meeting
The Federal Open Market Committee (FOMC) meeting on March 22 is expected to be the most important of the year, according to QCP Capital, a leading digital asset trading firm in Asia based in Singapore. This week has been relatively quiet in terms of major macro data releases, but the next major economic data point will be the ADP National Employment report. However, more important is what Fed officials have been saying lately about a prolonged interest rate hike and achieving a soft landing. Therefore, it is likely that this month’s FOMC meeting will set the stage for the rest of 2021 as market participants can see where the Fed sees its terminal rate in 2023 and if it plans to cut rates in 2024.
DXY As Main Indicator For Bitcoin And Crypto
The U.S. Dollar Index (DXY) will remain as the main indicator for Bitcoin and crypto market movements according to QCP Capital’s analysis related to current macroeconomics environment ahead of this week’s data releases. Earlier this week, DXY weakened due to China’s manufacturing purchasing managers’ index which reached 52.6 points – reawakening China’s reopening narrative which led Bitcoin prices higher as well indicating that DXY remains an accurate indicator for cryptocurrency markets moving forward.
Policy Path Chart
The Policy Path Chart published by Federal Reserve four times per year following meetings of its 16-member FOMC shows how far and for how long its “higher for longer” strategy might extend when setting interest rates – making it an important tool when predicting future trends in cryptocurrency markets as well as other financial markets such as stocks or bonds.
QCP Capital Analysis
QCP Capital released a new market analysis related to current macroeconomic environment ahead of this week’s data release from Federal Reserve which suggests that investors should wait until after March 22 before making any predictions on future trend changes or investing decisions so they can get an accurate picture from Policy Path Chart showing where Fed sees its terminal rate in 2023 and if it plans any cuts for 2024 so investors can make informed decisions with their hard-earned money going forward into 2021 and beyond..
Bitcoin Deals And Offers
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