Kraken Warns Bitcoin Faces 48-Hour News Grinder

Kraken says Bitcoin faces a packed 48 hours of Fed policy, U.S. economic data and earnings from Coinbase and Strategy.

Bitcoin is heading into a packed stretch of news that could force traders to process several conflicting market signals within hours, analysts at crypto exchange Kraken cautioned in a blog report on Wednesday, July 29.

The Federal Reserve is due to announce its latest interest-rate decision today at 2 pm ET, followed by a press conference 30 minutes later.

With no new rate projections or dot plot scheduled, traders will be focused mainly on the wording of the statement and comments from Fed Chair Kevin Warsh.