FOMC

Value

Bitcoin

Silk Road

Note

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-hits-66000-altcoins-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Hits $66,000, Altcoins Drop</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-miners-sell-as-prices-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) has stabilized at $66,000, while altcoins have experienced a significant decline. The crypto market is buzzing with anticipation as the Federal Reserve’s interest rate announcement looms. While <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rates</a> are expected to remain unchanged, Federal Reserve Chairman Jerome Powell’s comments will be closely scrutinized. Key predictions from QCP Capital experts offer insight into the market’s current dynamics.</p>
<h2 id="critical-market-insights">Critical Market Insights</h2>
<p style="text-align: justify">BTC recently dipped to $65,300 but has since rebounded, trading $800 above its lowest point. Persistent closures below $68,200 and <a href="https://newslinker.co/category/technology/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Microsoft</a>’s disappointing earnings report have increased pressure on the crypto market, thanks to its correlation with stock performance. QCP Capital analysts highlight heightened macro volatility, with the NASDAQ falling 10% from its peak.</p>
<h2 id="why-is-market-uncertainty-rising">Why Is Market Uncertainty Rising?</h2>
<p style="text-align: justify">Experts from QCP Capital note several factors contributing to market uncertainty, including Value at Risk (VaR) shocks, high stock valuations, and a global risk-off sentiment. These elements have led to increased volatility, with investors forced to reduce their positions, causing a feedback loop of falling prices. Notably, commodities like oil and copper have dropped 10-15% amid global economic slowdown fears.</p>
<h2 id="valuable-takeaways-for-investors">Valuable Takeaways for Investors</h2>
<p style="text-align: justify">Investors should consider the following points:</p>
<ul>
 <li>Monitor the Federal Reserve’s announcements and Powell’s comments closely for market impact.</li>
 <li>Be cautious of high volatility and potential feedback loops in asset prices.</li>
 <li>Keep an eye on stock and crypto correlations, especially following significant earnings reports.</li>
 <li>Note the recent inflows and outflows in ETH spot ETFs and ETHE.</li>
 <li>Consider the potential implications of the US government’s movement of Silk Road BTCs on the crypto market.</li>
</ul>
<p style="text-align: justify">QCP Capital forecasts increased volatility preceding the FOMC meeting. While no rate cut is expected, any deviations from current expectations could trigger risk-off moves, affecting all asset classes, including cryptocurrencies. The market remains watchful of Powell’s statements and their potential implications for future economic challenges.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-hits-66000-altcoins-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Hits $66,000, Altcoins Drop</a></h5>

Bitcoin Hits $66,000, Altcoins Drop

Inhoudsopgave

BH NEWS

Andere artikelen gepubliceerd op 31 jul 2024

Crypto Market Finds Strong Ground to Prevent Further Losses

U.S. Govt. Bitcoin Holdings Under Scrutiny After Trump's Strategic Reserve Proposal

Illuminating with Illuvium as the World’s Best Crypto Presale

How Will The Fed’s Decision Impact?

Ethereum Foundation On ETH Selling Spree, What’s Happening?

M2 ADGM Announces Seamless UAE Bank Account Integration for Virtual Asset Transactions

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!