The crypto market is awaiting decisions from the Federal Open Market Committee (FOMC) that could influence Bitcoin, Ethereum, and XRP prices.
Impact of the FOMC Meeting on the Crypto Market
Decisions made by the FOMC can significantly impact the prices of major cryptocurrencies. Crypto traders anticipate that changes in the Federal Reserve's monetary policy will influence price movements in the near future.
Current Crypto Market Situation
Cryptocurrencies like Bitcoin are currently trading at $84,490. Ethereum remains above $2,000, while XRP surged by 13% following news of the SEC dropping its lawsuit against Ripple. The fear and greed index stands at 23, indicating market uncertainty.
Expectations and Expert Predictions
Markus Thielen, CEO of 10x Research, believes Bitcoin might experience a short-term rally if the FOMC leans towards a more dovish stance. Otherwise, prices could remain at their current levels. Fed Chair Jerome Powell recently stated the Fed will hold rates steady, which might prevent major market shifts; however, investors are seeking further cues from the Fed.
The FOMC meeting remains a key event for crypto investors, eagerly awaiting further guidance on future Fed policy and its market impact.
