Jiang Zhuo'er: Market Divided on Interest Rate Resolution, Beware of "FOMC Hex" Effect

July 29th. Jiang Zhuo'er, founder of BTC.TOP mining pool, stated in a post that there are 5 hours left until the Federal Reserve interest rate meeting. The market pricing is still heavily divided on the interest rate decision, with 65% believing there will be no rate hike and 35% expecting a rate hike. Usually, the futures market pricing is highly aligned the night before the meeting. Therefore, this situation is very rare in recent years, representing a "outlier" level of divergence.

Jiang Zhuo'er's personal prediction scenario is: no rate hike will be maintained, but Powell will hawk to maintain market balance. The coin price will first skyrocket with a short squeeze, then plummet with a long squeeze.

Furthermore, Jiang warned to beware of the "FOMC Curse" effect in the crypto market, as Bitcoin has experienced a drop after the past 8 FOMC meetings.