The post Attention Traders; Bitcoin is All Set to Undergo a Pre-FOMC Drop; Are We Heading Down? appeared first on Coinpedia Fintech News
The crypto space is experiencing significant selling pressure as the beginning of the week failed to inculcate bullish momentum. Even though the weekend remained largely sluggish, a bullish week was expected, but the multiple events lined up in the week may have created fear among the market participants. Hence, they tend to fall into FUD, creating notable selling pressure, and causing the Bitcoin price to trigger a fresh bearish move.
Month on month, the impact of the FOMC meeting and the fresh CPI rates have been impacting the crypto space, specifically Bitcoin, to a large extent. The market participants now look at the FOMC MoM to decide the next action plan. Below are some of the reasons that may create significant volatility in the markets.
FED’s FOMC meeting is expected to be held on Wednesday, where-in they could raise another 25 bps
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