The cryptocurrency market saw a sudden decline this week following Fed and Jerome Powell's remarks. Let's take a closer look at what happened and what events await market participants in the coming days.
Economic Impact of Fed Statements
The market reacted to the hawkish statements from the Federal Open Market Committee about interest rate changes. Following Jerome Powell's speech about slowing the rate cuts, the situation on the crypto market worsened.
State of the Cryptocurrency Market
Bitcoin's price fell below $100,000 and is currently trading around $95,800. Altcoins also experienced significant fluctuations. With this decline, Bitcoin's drop to $92,000 has raised concerns among investors.
Weekly Event Calendar
On Tuesday, December 24, the burn of 1 trillion BONK tokens is complete. On Wednesday, December 25, U.S. markets are closed for the Christmas holiday. On Thursday, December 26, U.S. Initial Jobless Claims are expected: 218k. On Friday, December 27, a $44 million unlock of IMX tokens will occur.
In the upcoming week, crypto market participants will be watching economic developments and altcoin activity closely. The market situation is expected to remain calm.
