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The Crypto Bazaar is below 29 July today, with some of the most popular meme coins such as fartcoins, bonaks, and dogwifat double digits.
Summary
- Crypto market is below today due to bitcoin value action.
- The Federal Reserve will publish its interest rate decision on Wednesday.
- The US will move forward during the war in many countries on 1 August.
The price of Bitcoin (BTC) had changed very little in $ 118,000 as most Altcoins were retracted. Fartcoin (Fartcoin), Dogwifhat (WIF), and Bonk (Bonk), three popular Solan meme coins exceeded 13%, while Pudi Penguin, Pepe and Evalanche fell over 8%.
Crypto market is below because bitcoin price Rali feeds
The Crypto Market today is the main reason today is that Bitcoin has reminded in a tight rank this week. It has been at $ 118,000 for more than a week as the bull run had recently faded.
The price action of bitcoin usually runs a comprehensive crypto market. When it arises, most altcoins jump, and when it falls or calaidates, several tokens crash.
Fortunately, there are indications that the consolidation of bitcoin is rapid, as it is gradually creating a popular rapid penant pattern. This pattern has a vertical line and a symmetric triangle, which is often leading to more profit over time.
Therefore, this is like a fast breakout, as two rows of triangle patterns are converging. This, in turn, can lead a Boader Crypto.
Cryptocurrency crashed before FOMC decision and macro data
Crypto Bazaar is going down from the prescribed Federal Reserve Intersting Decision on Wednesday.
Economists hope that the bank will leave unchanged interest rates between 4.25% and 4.50%. For example, the focus will be on the upcoming dot plot, which will provide more details on the fact that the interest rate is expected to be cut.
CME fed the future The tool estimates that the Fed Cut will begin in the next meeting in September. A more dowish tilt for bitcoin and other altcoins will be faster.
In addition, the Cryptocurrency market is waiting for the leading macroeconomic data this week. The US will publish the first estimate of GDP data on Wednesday, personal consumption expenditure on Thursday and Nonform payroll on Friday. This is common for stock and cryptocurrency markets to pull back before the major macro events.
1 August trade tariff deadline
Crypto Bazaar is crashing before the upcoming tariff deadline on 1 August. Africa, India and Brazil.
It has already reached an agreement with the European Union, Japan, the Philippines and the United Kingdom. This means that business war, stocks and crypto along with other notes lead more Volatatibility in markets this week.
Additionally, cryptocurrency is falling due to Amang investors and meaning reverse, who take outgoing profits. Media Report is a condition where a surgery retreats and films return to their historic moving average.
