Bitcoin continues to hold its position above $96,500, attracting investors despite the ongoing decline of altcoins.
Expectations for Cryptocurrency Growth
On Wednesday, the Federal Reserve's interest rate decision is expected. While rates are assumed to remain unchanged, the tone of Powell's subsequent statements will be crucial.
Market Situation Analysis
Analyst Mister Crypto pointed out that "the market is pricing in 4-5 rate cuts this year. Stocks will rise, and crypto will explode. Be ready." Meanwhile, another analyst, Roman Trading, warns of a potential drop back to $88,000, asserting that the current rise needs stronger volumes.
INIT Coin Predictions
INIT Coin, a trending altcoin, is attracting attention from traders. Altcoin Sherpa noted: "I've already taken some profits, but ultimately I believe it will rise further."
The cryptocurrency market is expected to remain volatile in light of the upcoming Fed decision. The market may see both price increases and decreases based on the decisions made during the meeting.
