Coin Gabbar Token

<h2 id="header-0">The cryptocurrency market has gained some traction in the last 24 hours.</h2>Bitcoin price has increased by 2.11% in the last 24 hours and is currently trading at $20,276. Ethereum has also increased by 2.4% in the last 24 hours, surpassing the $1,350 milestone.<a href="https://www.coingabbar.com/en/crypto-currency/ripple-xrp-prices-usd" rel="noopener noreferrer nofollow">XRP price</a> has broken its downtrend, rising 5% in a single day, and is currently trading at $0.4793. Another big winner in the crypto market was Dogecoin (DOGE), which surged by 8% in the last 24hrs.However, experts anticipate that the crypto rally will not sustain long. Michael van de Poppe, CEO of Eight Global and a crypto expert, believes the US dollar is on the verge of a rally. As a result, the crypto market may see a slight correction.On Friday (Oct 8), US unemployment figures will be revealed. Michael Poppe believes that the data might be flawed and have a negative impact on the market.Why the cryptocurrency market struggling?Despite today&#39;s surge, the cryptocurrency market remains gloomy. The Federal Reserve remains hawkish despite global recessionary worries. The United Nations has urged global economies to abandon their hostile posture. However, the American Federal Reserve is unlikely to cooperate.The Fed&#39;s attitude will become clearer on Wednesday (Oct 5), when Atlanta Fed President Raphael Bostic delivers a key speech. On Thursday (Oct 6), Chicago&#39;s Charles Evans and Cleveland&#39;s Loretta Mester will speak.Oil prices will also contribute to the existing adverse macroeconomic circumstances. The Organization of Petroleum Exporting Countries is considering the largest supply cut since 2020 in order to hike prices. On Wednesday, OPEC&#43; will gather to finalize the decision.What Will the Fed Decide?The <a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow">cryptocurrency market</a> is highly correlated with the broader general market. As a result, macroeconomic factors will continue to drive price fluctuation.The CME Fed Watch tool predicts another 75 basis point raise at the next Fed meeting.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/elon-musk-agrees-to-acquire-twitter-prompting-dogecoin-to-skyrocket" rel="noopener noreferrer nofollow">Elon Musk Agrees to Acquire Twitter, Prompting Dogecoin to Skyrocket</a>

Experts Believe Cryptocurrency Market is Nearing Another Bottom

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