The crypto market was mixed before the Federal Reserve’s interest-rate decision later Wednesday. The CoinDesk 20 Index has added 0.41% since midnight UTC, with 10 members advancing and 10 declining.
Bitcoin , the largest cryptocurrency, added 0.75% to claw back some of Tuesday’s losses after a volatile 48 hours that saw it spike to $66,700 last week before crashing to $62,400 in the wake of the rout in South Korean stocks.
Inflation running at 4.1% makes the case for the Fed to raise the fed funds target rate for the first time in three years. Balanced against that, a pause in Iran-U.S. hostilities has taken some of the heat out of oil prices and slightly trimmed the odds of an increase.
Ether (ETH) is down 0.13% on the day. S&P 500 and Nasdaq 100 index futures are both positive, while gold holds above $4,000 and silver gained 1.40%, suggesting markets are hedging rather than committing ahead of the announcement.
