Reserve

Cryptocurrency

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The cryptocurrency <a href="https://u.today/shiba-inu-shib-and-dogecoin-doge-among-top-crypto-laggards-as-market-sees-severe-downturn" rel="noopener noreferrer nofollow">market</a> might finally get a <a href="https://x.com/WuBlockchain/status/1810145979045466583" rel="noopener noreferrer nofollow">shake-up</a> after the upcoming release of the CPI and PPI data this week. Chairman Powell will also deliver his semi-annual monetary policy testimony to the HFSC. With the 25bps rate cut looming on the horizon, things may change rapidly.
Inflation levels are evaluated using economic indicators such as the PPI and CPI, which have a direct impact on monetary policy decisions. A more aggressive stance on interest rates by the Federal Reserve in response to higher-than-expected inflation could have an impact on all financial markets, including cryptocurrencies.
On the other hand, if inflation seems to be under control, the markets might feel some relief, and the price of digital assets might rise. The testimony of Chairman Powell is also a significant event because it provides information about the Federal Reserve's outlook for the economy and its plans for future monetary policy.
Increased volatility on the <a href="https://u.today/german-government-cant-stop-selling-bitcoin" rel="noopener noreferrer nofollow">cryptocurrency market</a> can be attributed to any sign of policy changes or shifts in the outlook for the economy. Investors and traders will be carefully observing any clues about interest rates and the Fed's strategy for combating inflation.
There is additional uncertainty because of the possible rate cut of 25 basis points. It might indicate the Federal Reserve's intention to boost economic growth if it is put into practice, which could have a favorable impact on risk assets like cryptocurrencies. However, how these developments fit into current economic conditions and expectations will determine how the market responds in the main.
The cryptocurrency <a href="https://u.today/cardano-eyes-chang-hard-fork-historical-surge-hints-at-ada-potential-rally" rel="noopener noreferrer nofollow">market</a> is going through a turbulent time right now. With resistance at the 200 EMA level, Bitcoin has found it difficult to hold its position above $58,000. Ethereum is struggling to maintain its upward momentum and is currently trading below the $3,000 mark. Broader market forces, such as massive liquidations and selling pressure from different entities such as government agencies and ETF holders, are aggravating these technical difficulties.

This Week Is Crucial for Crypto Market: Here's Why

U_Today

Các bài viết khác được xuất bản trên 8 thg 7, 2024

Vitalik Buterin’s transfer of 100 Ethereum raised eyebrows: What’s next?

South Korea Seeks Extradition Of $3B KOK Token Scam Perpetrator From US

Rogue Company deletes all Dr Disrespect in-game content

Mass Adoption? NEAR Protocol Sees Over 12 Million Unique Addresses In 30 Days

A Texan Designer Makes $50,000 Out of a $500 Investment in Solana! BlockDAG Indicates Potential f...

North Carolina’s CBDC Ban Bill Vetoed By Governor

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!