The cryptocurrency market is undergoing fluctuations where Bitcoin shows stability, while most altcoins continue to lose value. Expectations for rate cuts from the Federal Reserve raise additional questions.
Ethereum's Response to Economic Changes
The global economy is in a state of uncertainty. The market anticipates rate cuts of at least 125 basis points, with the first cut expected on July 30. Ethereum is facing steeper losses than Bitcoin, as seen in the declining ETHBTC pair.
Current Situations of AVAX and Pi Coin
AVAX prices have stabilized at the $19.75 mark but could drop to $18.4 or $17. Pi Coin is gearing up for an important mid-month event, though without significant announcements, the market remains speculative.
Key Takeaways
Bitcoin remains steady while altcoins continue to suffer due to postponed Federal Reserve decisions. ETH is expected to decline without positive catalysts, AVAX faces downward pressure, while Pi Coin could experience a rise with any unexpected announcements.
The uncertainty of the current economic situation affects financial markets, including cryptocurrencies. Expectations from Powell's forthcoming statements may significantly influence trends in these assets.
