What to Expect From FOMC & SEC’s Announces 4th Crypto Discussion
The post What to Expect From FOMC & SEC’s Announces 4th Crypto Discussion appeared on BitcoinEthereumNews.com.
After witnessing a 10% surge in April, the cryptocurrency market took a sudden pullback on the first weekend of May. As a result, the total crypto market capitalization dropped from $2.97 trillion to $2.89 trillion. Bitcoin’s recent attempt to recover weekend losses has failed, further highlighting the crypto market’s bearish sentiments. The upcoming FOMC meeting and SEC’s 4th crypto round table discussion add uncertainity to what comes next for BTC and the rest of the cryptocurrencies. Upcoming FOMC Meet and SEC Discussions The sudden weakness in the crypto market comes days before the upcoming Federal Open Market Committee meeting. The FOMC meeting will discuss a potential change in the Federal Target Rate. FedWatch Tool However, as per the FedWatch tool, there is a 98.2% chance that the Federal rates will likely remain the same. The current Federal rates are 425 to 450 basis points. Notably, the same tool estimates a 33.66% chance of a 25 basis point rate cut in June 2025. As the rates are expected to remain the same in May, the market remains a bit tense. Due to a strong correlation, the downfall in Bitcoin is likely to fuel a crash in altcoins. However, the United States Securities and Exchange Commission’s Crypto Task Force has announced its agenda and panelists for an upcoming roundtable meeting. The meeting is scheduled for May 12, 2025, with the title, “Tokenization — Moving Assets Onchain: Where TradFi and DeFi Meet.” The meeting will be led by Commissioner Hester M. Peirce, emphasizing the potential of tokenization to transform financial assets. The event will be open to the public between 1 pm and 5:30 pm in the SEC headquarters in Washington, D.C. There will also be a live webcast of the highly anticipated roundtable meeting. This could lead to increased adoption at an…
