LIVE FOMC: This Could Change Everything!

**Drew** (0:00)
Welcome to Discover Crypto, I am Drew, and we are here for the second to last speech ever from Jerome Powell. He's about to come out and have his FOMC speech. Now, the tone of this speech is gonna matter a lot for how markets move. Good afternoon, Justin. We're at a F as a stream, it's right here, man. We are right here, we're ready to go. We got an eye on the FOMC stage here, the Federal Reserve about to come out. But they have some weird music going on in the background. We're watching this in the background, waiting for Jerome Powell to take the stage. Now, there is some pretty big context with FOMC meetings that we need to take into account here. So the first and foremost thing that we have to acknowledge is that there has been some heavy selling into the morning events, Binance and Coinbase heavily selling their Bitcoin. Going into the FOMC this morning, big players are expecting a hawkish Fed. And I want to know from you in the chat, the genius is up. Well, are we going to see Jerome Powell with any sort of dovish tone in today's meeting is largely priced in that he's going to be holding interest rates where they are. But we will be pulling that information as soon as it's released as well. So we'll pull up the Fed CME tool. We'll get after it in this regard as well. So we are 10 minutes from the speech, and it's been a long countdown.
98.9% of the participants in the Fed CME tool expectations meter expect the interest rates to remain the same. Now, this is the creepy part. 1.1% of the market participants expect a raise. They're expecting a raise in the interest rates in this environment. What a world to live in. And this is where the max confusion, the max chaos of the markets really sits now. So we're paying attention to the stage as well for Jerome Powell. Make sure he's not taking the stage yet. I am going to miss. It's the end of an era. It's the end of an era for blaming all of our problems on Jerome Powell. Now, we're going to find someone else to blame all of our problems on. Kevin Hassett's probably the reason I stubbed my toe a couple months from now. But usually, when you see the FOMC happen, it doesn't ever seem to really help us out, even if they are cutting interest rates. And Bitcoin right now, the graph is speaking for itself. Decent bounce over the vast few weeks here. We have two weeks of green candles, a little bit of price defense on Bitcoin as things sit right now. Now, if we zoom in and take a look at a little bit of a gander here, Bitcoin fell down to about $70,900 this morning. We're looking at a likely bounce point, at least a point for turbulence in the prices. I called this out in the Discord morning memo that I put in the trading chat. And shout out to the Discord and all the trading members with us in there. But we have indeed seen that play out, where 70,800 is the general moment of turbulence. Now Bitcoin is figuring out if it wants to pump on the news that there will be no Federal Reserve rate cut. Now, it's an interesting time for people on the outside looking in. I get a lot of comments that this is down, only Bitcoin is going to zero, quantum computing is going to go down to zero. I will say that I've found some really key metrics that I'm not going to bore you to death with in this video in particular. But coming out tonight, I give you a lot of different reasons and points of confluence why we actually might be looking at the best time to buy Bitcoin right now. Pull this back up. We're not missing out on any of the actions starting up. And you know what? I might get frisky. I might get frisky. I might trade a little bit in this. Usually, I don't. But when I do, I'll definitely use a stop loss. That's for sure. In this environment, if you are trading this chaos to come, stop losses are our friend in this situation. So right now, I did have a small play. We'll see if it gets washed out or not here. But I got a little stop on it. Stop loss basically covers my point of entry, but I'm testing out a long. We'll see if the long plays out. A little bit of a momentum trade. It's probably going to get cut because I have a very tight stop on this already to cover, just so I can cover the rest of the news. Because the era of Jerome Powell has been marked by controversy and Trump crashouts calling for Jerome Powell basically being a fool and not cutting interest rates when the economy is doing so well. How could he possibly not cut interest rates? Now, there's a lot of metrics that have been basically revised, and if some argue falsified in terms of jobs data, in terms of how well the economy is actually doing, we've seen massive, almost historic levels of revisions on jobs numbers over the past few years, and the Federal Reserve has largely been driving blind. Now, where Jerome Powell is at right now, being pushed into cutting interest rates in a market that has inflation not exiting the building. The inflation is still here, just a matter of where you're looking. The average person looking at insurance rates and looking at the average cost of food over the last few years feels that level of inflation is just the market's like to discount the amount of pain that the middle class are in right now to justify further cuts on interest rates and making money cheap again. So it's an insane time to be alive. I am, part of me is going to miss Jerome Powell. Oh, my gosh. What is Car Crash Club doing in the chat? Oh, my lord. Unbelievable. I also want to pull up the poll so I can take a poll. Because I'm interested in what you guys think if we're going to dump or pump off of this Fed. We've expected interest rates being held as such a bearish idea for so long. Half of me is almost curious if we just pump, just to throw off everybody, you know, give everyone a complete left field out of the blue move here. Pull up the chat room, get you guys up here. And make sure to smash the likes. Smash the likes. I'm in it for the, winning it for the biscuit on these Fed meetings here.