India, Jan. 29 -- Crypto market sentiment remains subdued as world markets brace for the decision of the Federal Open Market Committee. The Fed in its decision to be announced on Wednesday afternoon is widely expected to keep interest rates on hold. However, in the first FOMC to take place after the inauguration of the new administration in the U.S., market spotlight is undoubtedly on the Fed's forward guidance on interest rates.
The CME FedWatch tool that tracks the expectations of interest rate traders shows a 98.5 percent likelihood of a pause by the Fed in the current review. For the review due in March, the probability of a rate cut increases to 32 percent. At current expectations, there is a 50 percent rate cut likelihood in May. Rat...