FedMinutes have always had a directional influence in the crypto money industry.
The January minutes of the Fed were released, while Bitcoin reacted negatively to the meeting notes on the last 4-hour chart. The Fed has been determined to keep inflation at 2 percent last year.
Fed’s January Meeting Minutes Published
According to the notes in the Fed minutes, the participants agreed to continue the fight against inflation.
In the published minutes, the Fed explained the following on the fight against inflation and monetary policy:
“Participants agreed that the Fed should implement tight monetary policy until it reduces inflation to 2 percent. Participants agree that this process will take time. All participants supported the balance sheet reduction under the current plan. A consensus was reached when the risk of recession rose in 2023. Some participants supported a 50 basis point increase in interest rates. Respondents are of the opinion that the troubled job market will fuel the rise in inflation. “
Bitcoin daily chartBitcoin experienced a decrease of approximately 2.5 percent during the day and regressed to the 23 thousand dollar band. Bitcoin lit a red candle on the hourly chart after the minutes were released. The first stop in a possible rise in Bitcoin is the resistance of $ 25 thousand, and it is possible to try the support of $ 23 thousand in the decline.
