Since it’s a Sunday, let’s take a look at the upcoming events for cryptocurrency investors. Delisting, network updates and economic decisions greatly influence prices. Upcoming Federal Reserve minutes spark high anticipation for clues on future interest rates. Investors scrutinize every move, aware that the slightest decision can rock already volatile markets.
Diving into the lair of crypto: On the lookout for the next waves
In the tumultuous ocean of cryptocurrencies, investors scan the horizon in search of the next turmoil. The time has come to arm ourselves with patience and vigilance because the days to come hold crucial adventures. At the top of the list of events to follow: the long-awaited Federal Reserve minutes, announced Wednesday at 10:00 p.m. EET. Analysts are on the alert, watching for the slightest sign concerning interest rate reductions for 2024. Any statement from the Fed could shake up the markets.
As a reminder: the Fed, guardian of the American economy, is committed to maintain price stability, aiming for inflation around 2%. Its second objective is full employment. As long as the jobs market remains robust, the Fed will continue to prioritize the fight against inflation, its headache, in accordance with its mandate.
In November 2023, the confidence of Jerome Powell, Chairman of the Fed, was unshakeable: “ No rate cuts in sight, period “, he proclaimed. But a month later, the tone has changed. At the last press conference, Powell surprised everyone by not only talking about rate cuts, but seriously considering their timing.
Now the Fed is preparing for two 0.25% rate cuts in 2024, officials say. Powell, in a surprisingly accommodating speech, even suggested that the Fed had reached its peak rate for this cycle. Markets are now anticipating even more drastic reductions, thus illustrating an unexpected turnaround.
Cryptocurrencies: Between volatility and opportunity
Bitcoin (BTC), currently at $51,670knows a drop in volumes, favoring sellers. Failure to turn $51,800 resistance into support results in profit-taking. Altcoins, despite some breakthroughs, do not look promising.
During this time, AVAX sees a significant release of $382 millionwith a price exceeding 40 dollars.
For investors, this situation offers opportunities for speculation on futures contracts. The coming days hold both positive and negative movements.
Expect movement!
The coming week holds key moments for cryptocurrency investors, notes CoinTurk. Among the major events, the delisting of certain cryptos (ANT, MULTI, VAI and XMR) on Binance, the listing of Starknet and the unblocking of DYDX and AVAX.
On the economic side, the decisions of the American Federal Reserve and the Turkish Central Bank, as well as economic indicators, such as applications for unemployment benefits and manufacturing and services PMIs, will influence the markets.
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