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The digital landscape is witnessing significant movements this week, with a sudden surge in Bitcoin price followed by an increase in other currencies, following the release of U.S. Consumer Price Index data.
Although the Consumer Price Index data showed stability compared to expectations, confidence appears to be growing that the Federal Reserve will not raise interest rates.
However, we must remain cautious, as the market remains volatile. The market direction will be determined after the Federal Open Market Committee meeting, where the Federal Reserve Interest Rate decision will be released at 18:00 UTC today.
If the interest rate is lowered or maintained, we may see further increases in digital currency prices. Conversely, if the interest rate is raised, the digital currency market may experience a correction.
In the world of digital currencies, caution should be exercised, and protective measures such as implementing stop-loss orders should be considered.
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