BTC (BTC) news report: In the potentially encouraging macro environment, the encryption market may experience a rebound in February. At the very least, the larger market mentality shows that the Fed meeting may have a positive impact on the price of the Special Currency (BTC) by turning to a slower rate increase. However, if the central bank decides to raise interest rates by 50 percentage points again, cryptocurrency may decline. On the other hand, the weakening of the US dollar means that the price of BTC is rising. We should fully consider the reverse correlation of these assets.

The US stock index (DXY) shows that the US dollar is strong against all kinds of loan currencies and has continued to decline in the past month. Compared with the index value before and after Christmas, DXY fell more than 2%. In addition, the price of BTC is struggling to be around $23000 at this stage. According to the CoinGap price tracking, as of the time of writing, the top cryptocurrency trading price was $22901, up about 0.1% in the past 24 hours.

Will the Fed's meeting turn in February?

The meeting of the Federal Open Market Committee (FOMC) is scheduled to be held from January 31 to February 1. The traders hope to raise interest rates by 0.25% in February and reach similar conclusions in further meetings. It is true again that the BTC price may rise substantially with the information, laying the foundation for the potential rise in the future. In short, the BTC price is likely to be a security threat to the fiscal policy prospects of the Federal Reserve meeting due to the US economic recession.

In addition, several senior officials of the Federal Reserve recently also hinted at the probability of slowing down the rate increase. And Peter Schiff is a well-known figure in the US financial industry. He told the conjecture that the price of cryptocurrency would rise under the circumstances of the Federal Reserve meeting.