How Will Federal Reserve Asset Tapering Impact The Bitcoin Market?

Bitcoin Magazine

The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Yesterday, the Federal Reserve Board announced doubling the pace of its asset tapering to $30 billion a month, which was slightly more hawkish than consensus expectations. Rather than end all asset purchasing today, Jerome Powell highlighted that a calculated, methodical approach to winding down asset purchasing is a more stable approach for markets. The current plan is for asset purchases to end by March 2021 with the market expecting a high probability of three interest rate hikes in 2022, up to 100 basis points. 

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