Leveraged bets on FOMC meeting ‘guaranteed recipe to lose money’ — Trader

A crypto trader warns not to trade on the initial Fed interest rate decision alone, as it is the speech from Fed chair Jerome Powell that typically moves Bitcoin's price.

A crypto trader warns that going heavy on leverage before the monthly United States interest rate decision is a surefire way to lose money in crypto trading. 

After the Federal Reserve’s statement confirmed that the US central bank intended to leave interest rates unchanged in its target range between 4.25% and 4.5%, Bitcoin’s price barely moved, as the market had already widely expected no change in the interest rate.

However, after Fed chair Jerome Powell said the probability of a recession is “not high,” despite independent economists raising the odds of one, the overall crypto market saw an upswing, leaving traders betting on the downside caught off guard. 

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