India, March 18 -- Cryptocurrencies are trading with heavy losses ahead of the decision of the Federal Open Markets Committee, scheduled to be released on Wednesday afternoon. Though the Fed is widely expected to hold rates steady, markets are keenly waiting for the forward guidance on interest rates as well as the economic projections by the Federal Reserve.
The CME FedWatch tool that tracks the expectations of interest rate traders shows the likelihood of interest rates remaining at the current level of 4.25-4.5 percent at 99 percent. It however declines to 81 percent by May, 34 percent by June, 22 percent by July, 9 percent by September, 7 percent by October and 4 percent by December. With the firm likelihood of two rate cuts in 2025, m...