Investors around the world are gearing up for an exciting night in the crypto market, anticipating the possibility of reaching new all-time highs or facing significant price fluctuations.
Cryptocurrencies on the Brink of Records
The price of ETH has reached $4,775, just $100 shy of a new all-time high. If the $4,700 level is maintained, there is potential for the daily candlestick to close above the previous ATH. This sets an optimistic tone for investors, as ETH's movement might lead to similar attempts of achieving highs by other major cryptocurrencies.
For instance, SOL remains above the $200 mark with a target of $296. Meanwhile, BNB is positioned just below its ATH.
Fed Members' Announcements
A recent macroeconomic report from Goldman Sachs suggests that the Fed may lower rates by 25 basis points twice in 2026. In recent hours, statements from Fed members, including Bostic, have surfaced, stressing that despite low unemployment, signs of labor market weakness have appeared. He conveys that a rate cut in 2025 is possible, assuming a strong labor market is maintained.
Goolsbee also commented on rate reductions, highlighting that long-term interest rates are pivotal for mortgage determinations.
Market Influencers
The statements from Bostic and Goolsbee are frequently referenced in relation to the market, emphasizing the need to analyze upcoming economic reports before the Fed's September meeting. This is a time of anticipation and instability in the market.
The night promises to be intriguing for crypto investors with the potential for significant market changes. Forecasts and Fed statements underscore the importance of monitoring the economic situation.
