The cryptocurrency market displays combination actions while investors and merchants are preparing after the eagerly awaited meeting of the federal reserve.
Investors will monitor the political meeting of the Federal Reserve, which begins on Tuesday. According to the CME Group Fedwatch tool, officials should maintain reference borrowing rates of the day after 4.25% and 4.50%.
The president of the Fed, Jerome Powell, reiterated that the central bank did not want to reduce interest rates. However, investors will strongly monitor their comments after the meeting for signs of economic slowdown or monetary policy changes.
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Historically, Fed meetings had a considerable impact on the cryptocurrency market. Higher borrowing costs and an environment opposed to risk distance investors from speculative assets such as cryptocurrencies, resulting in a drop in demand.
The cryptography market reacts
Cryptographic investors were cautious before the political meeting of the federal reserve from March 18 to 19, where interest rates should remain unchanged at the end of the meeting. With this playing a crucial role in the feeling of the market, Bitcoin, Ethereum and other digital assets are at the forefront.
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At the time of the press, Bitcoin and Ethereum was negotiated slightly in the last 24 hours while merchants are expecting clear market signals.
XRP, Sol and Shiba Inu fell by almost 4%; Cardano, Dogecoin and Polkadot have dropped 3% in the last 24 hours; Cronos lost almost 10%, while Tron and Toncoin increased by 4% within this period.
Economic uncertainty and global tensions could aggravate the lower pressure on cryptographic markets, according to participants in Polymarket, with a 51% possibility that BTC closes the week between $ 81,000 and $ 87,000.
According to Ki Young Ju, head of the Cryptochent cryptographic analysis company, the Haussier Bitcoin (BTC) market may have ended. Ju declared on X that it expects 6 to 12 months of lower or lateral prices while the BTC Bull Run ends, citing the liquidity of the decrease in the market.
