Table of Contents
The Crypto market was included today, to pull back on 30 July, when the US published strong economic data of Federal Reserve Interest Rate Decision decision.
Summary
- Crypto market is below today.
- The number came before the Federal Reserve Interest decision.
- Bitcoin Price has formed a fast penhacent, pointing to a strange turn.
The price of bitcoin remained within a narrow range of $ 118,000, while most Altcoins fell. Conflux (CFX), which increased on Tuesday, was one of the top legs, falling up to 27%.
Bonak (Bonak) price fell by 14%, which fell more than 10%of other popular meme coins such as SPX6900 (SPX), Floki (Floki), and Dogwifhat (WIF). Overall, the market capitalization of all cryptocurrency declined by 1.65% to $ 3.84 trillion.
Crypto market is below FOMC decision
Cryptocurrency Markes normally pilgrimaged back after strong economic figures, when it is interested in increasing concerns about the accents of the Federal Reserve.
An AD report shows that the economy added 104,000 jobs in July, which was after 23,000 sheds in the previous month. The job addition was the highest than the expected of 75,000.
Another report has shown that the economy Q2 has a string comback phase, which is growing 3%. It marked a significant impact after 0.5% of the economy in Q1.
Therefore, these numbers mean that the Federal Reserve can give a Hawkish tone when he later recommends his two -day meeting. In this scenario, the bank will leave mice unchanged and indicate that it would not be in a hurry to cut the mice as posted by US President Donald Trump.
Crypto Crash Trade Quick among Jitlers
The crypto market also crashed among the growing trading gitlers near the time limit of 1 August. In a statement, Trump said that the US would impose 25% tariffs and other punishment on the goods sent from India on August 1.
This is a major growth because two counties trade bail -bail in a year. The US exported goods worth more than $ 41.8 billion in 2024, which was priced at $ 87.4 billion.
Other countries risk more tariffs this week. For example, Brazil, a county where we have a large business surplus, will be hit with 50% tariff. Those who are affected include South Korea and South Africa.
The cryptocurrency market often experiences a decline when major geo -political issues arise. For example, most of the tokens were drowned in April when Trump canceled his repter to the repayment tariff.
Will Crypto Market Turnbound?
Fortunately, there are indications that the crypto market will enter the near period. For one, the demand for most crypto ETFs continues to increase, with cumulative bitcoins and atherium ETFs growing up to $ 55 billion and $ 9.8 billion.
The crypto market is expected to recover, as as the upper chart show, Bitcoin (BTC) has formed a rapid penette pattern, indicating a final combination. Such steps will lead to more benefit between Altcoins.
