The market awaits the Fed's decision, Bitcoin consolidates at a high level, US stocks, gold, and oil trade sideways

BlockBeats News, March 18th. Last night and this morning, the situation in the Middle East continued to be deadlocked. Investors tried to digest the inflation impact of high oil prices and turned their attention to the upcoming Federal Reserve interest rate decision. U.S. stocks, gold, and oil hovered, while U.S. bond yields and the dollar both fell. Bitcoin failed to sustain its strong momentum from Monday and traded sideways at $74,000.

According to Bitget market data, the three major U.S. stock indexes closed slightly higher, with the S&P up 0.25%, the Nasdaq up 0.47%, and the Dow nearly flat. Energy stocks rose across the board, with Exxon Mobil up 1%. Most crypto concept stocks also rose, with MSTR up 1.87%, BMNR down 0.68%, CRCL up another 5.15%, breaking through the $130 mark.

According to HTX market data, Bitcoin once again failed to break $75,000 and has now fallen back below $74,000 to $73,980.53.

At 2 a.m. Beijing time tomorrow, the Federal Reserve will announce its interest rate decision. The market currently expects the interest rate to remain unchanged and is instead focusing on Fed Chair Powell's remarks during the monetary policy press conference. The market anticipates Powell will reveal the Fed's interest rate trajectory under the Iran situation. Futures prices indicate that policymakers will not consider easing until at least September, more likely in October. Even then, there is only expected to be one rate cut this year.