Wednesday’s FOMC Turned Out to Be a Nothing Burger, a Win for the Bulls

Wednesday’s FOMC turned out to be a nothing burger, a win for the bulls considering the recent bullishness in the crypto market.

Wednesday’s FOMC meeting turned out to be a nothing burger, a win for the bulls considering the recent bullishness in the crypto market.

The Federal Reserve kept its target rate unchanged at 425 – 450 basis points, which was in line with the market expectations.

Moreover, the Fed Chair Jerome Powell stayed with the “wait and see” theme in his post-FOMC remarks, despite acknowledging the increasing macroeconomic uncertainty.

Crypto prices are seeing an across-the-board uptick, with the FOMC uncertainty now behind them. After initially dipping to $95,800, the Bitcoin price has climbed to $98,000 in early Asian trading hours.

Meme coins have also benefited from Wednesday’s FOMC, with Mog Coin, Popcat and Ponke among the top crypto gainers.

Why The Nothing Burger FOMC Is Good News For Crypto?

Macroeconomic uncertainty is currently the biggest impediment to the ongoing crypto bull market.

Last quarter’s negative US GDP, in addition to the elevated inflation levels, have raised concerns of an impending recession as well as stagflation — an environment defined by slowing growth and sticky inflation.

Consequently, investors were concerned about Powell’s hawkish tone, which could have resulted in downside volatility.

The Fed Chair did acknowledge the “somewhat elevated” inflation, increasing macroeconomic uncertainty and the growing risk of stagflation. He also criticized Trump’s tariffs, calling them “significantly bigger than expected”.

However, Powell largely adopted a “wait and see” approach, a phrase that he repeated several times during his remarks. As a result, interest rate traders continue to price in three rate cuts this year, data from CME FedWatch reveals.

Without any extremely hawkish statement from the Fed Chair, the crypto market appears set to resume its bull run, which started in early April.

The soaring global liquidity, as measured by the Global M2 money supply, confirms this bullish thesis. GMI CEO Raoul Pal’s Global M2 chart shows its strong correlation with BTC and indicates that the Bitcoin price could be headed to $140k and beyond.

Best Cryptos To Buy Now

The crypto market is in a bull run, and sidelined investors have one final opportunity to load up on assets at undervalued prices.

For instance, the Bitcoin price could peak anywhere between $150k and $210k, which means it continues to be one of the best cryptos to buy.

Among the altcoins, Stacks, Mog, and Ponke are showing strong bullish strength and have emerged as top crypto gainers after the Fed meeting.

Popcat is gaining significant attention post-FOMC as well. The Popcat price has broken out of a multi-week wedge as well as an inverse head-and-shoulders pattern, two strong bullish signals for any meme coin.

Experts are indicating a high possibility of $1 in the coming weeks.

Smart money investors are showing interest in beta BTC plays, which is why BTC Bull has been experiencing a significant buying frenzy too.

A unique Bitcoin-themed meme coin, BTC Bull promises free Bitcoin, token burn events, and airdrops when the Bitcoin price hits certain price milestones, making it an excellent bet on BTC.

Owing to this unique concept, early buyers are eyeing up to 100x investments from BTCBULL.

Solaxy (SOLX) is another Solana meme coin that is creating quite a buzz, raising over $33 million in its presale behind strong whale demand.

It is the first Solana Layer-2 scaling solution, which makes it a long-term investment and a beta bet on SOL.

Considering that the top Bitcoin and Ethereum L2s like Stacks and Optimism have multibillion-dollar valuations, experts are calling SOLX the next 20x crypto.