What Will Happen to Cryptocurrencies?
The Fed meeting is in 5 days, and the Fed is not in a good position. Members are people capable of reading leading indicators well, and if their readings point to a bad end, we could see harsh statements at the meeting. Additionally, if Fed Chair Powell makes statements delaying cuts, concerns in risk markets will multiply.
Members will not make statements for 5 days, and markets will price in the latest data. So, during this period, especially as weekend volumes drop, sharp downward surprise movements may occur. On the day of the meeting, volatility may increase depending on the statements made. Currently, BTC ETF data has not been released.
Investors familiar with traditional markets have been making significant purchases with the expectation of further rises for a while. If this has turned into rapid sales and we see a significant net outflow for the last trading day, there will be more reasons for altcoins to free dive and spike deeper bottoms over the weekend. $BTC
