Decizia luată de Federal Reserve (Fed) creșterea continuă a ratelor dobânzilor pentru a îmblânzi inflația fulgerătoare a fost în detrimentul pieței cripto, deoarece urșii continuă să muște.
The situation has become dire to the extent that the crypto market is positively skewed towards the decisions made at the federal open market committee (FOMC) meetings, conform to market analyst Michael van de Poppe.
“Crypto is heavily skewed towards the outcome of the FOMC meeting on Wednesday, while indices are acting relatively calm. What’s the best case? 1) DCA and have a longer perspective. 2) Wait until FOMC is out. 3) Avoid leverage trading.”
Interest rate surges usually have bearish impacts on high-risk assets like Bitcoin (BTC). For instance, Bitcoin (BTC) sank to $18.5K on September 19 based on global monetary tightening concerns, Blockchain.Noutăți raportate.
Speculations are high that the Fed will increase the interest rate by 75 basis points (bps) tomorrow, September 21, and this might further strain the crypto market.
Reporterul criptografic Colin Wu divulgate:
“On September 21, the Fed will announce its decision to raise interest rates, and the market is expected to raise interest rates by 75bps.”
Cu Fed crescând the interest rate by 75 basis points (bps) in June, the highest since 1994, a similar fate was witnessed in July.
Mike McGlone, a senior Bloomberg Intelligence commodity strategist, notat that the Fed was using a sledgehammer on commodities and risk assets, resulting in bearish momentum.
Sam Bankman-Fried, the CEO of crypto exchange FTX, shared similar sentiments that despite the federal reserve being caught between a rock and a hard place, it was driving the current crypto downturn because both markets and people were scared, Blockchain.Noutăți raportate.
Even though the two leading cryptocurrencies have gained some momentum in the last 24 hours, how the interest rate review will transpire this time round remains to be seen.
Bitcoin and Ethereum were up by 4.7% and 4.84% in the last 24 hours to hit $19,332 and $1,359, respectively during intraday trading, according to CoinMarketCap.
Sursa imaginii: Shutterstock
Source: https://blockchain.news/news/fed-interest-rate-hikes-attributed-to-primary-catalyst-of-crypto-bear-market