Crypto Market Dips Due To Trade War Fears, Unknows Regarding FOMC’s Decisions:-🔥🔥💥💥💥
The cryptocurrency market is dipping due to fears of an impending trade war as well as unknowns in the upcoming decisions of the US Federal Reserve. The price of Bitcoin dipped to $88,700 at the weekend, while Ethereum dipped to $2,930 as well.
Key Factors Affecting the Crypto Market Trade War Fears: The risks of a trade war between the USA and Canadian economies were heightened by Donald Trump’s threat to slap a 100% tariff on Canadian goods.
- FOMC Interest Rate Decision: Focus will remain on the interest rate decision by the Federal Reserve, due out on Wednesday, which will lead the charge for the remainder of the year. Economists expect the Fed to hold interest rates steady within a range of 3.50-3.75%. - Corporate Earnings: The upcoming corporate earnings announcements by large corporations such as Apple, Microsoft, and Meta Platforms will have an impact on the market with positive corporate earnings driving the stock and crypto markets even higher.
Market OutlookIn order to assess the market's response to the recent FOMC meeting outcome, one has to take into account Fed's hints on further CUTs. Otherwise, an increase in dovish sentiments from Fed can lead to an increase in crypto market prices. Still, one has to take into account further changes within the bank, including an appointment of the new Chair.
