Ahead of the June 14 Federal Open Market Committee meeting, the financial markets are anticipating that the US Federal Reserve will pause interest rate hikes. This expectation is reflected in the behavior of the S&P 500 Index, which is close to reaching a 13-month high.

Former Fed Vice Chair Roger Ferguson believes that the market has already priced in the Fed rate hike pause, but he warns that there may be further rate hikes in the remaining months of 2023. This could lead to increased volatility in the crypto market, as traders may prefer risky assets like Bitcoin in an uncertain environment.