BTC price stalls at $ 84k lead at the FOMC meeting, the analyst warned another leg less
Crypto markets climbed higher on Monday with Bitcoin (BTC) trading of over $ 84,000 as another positive day for US stocks has expanded their increase in risk assets. Ethereum’s Ether (ETH) stabilizes above $ 1,900 and is 2.8%higher, while some Altcoin majors including SUI, AAVE, ICP and close to a book of over 5%.
Solana also edited 3% higher in line with the broader market, as the first day of Sol Futures trading in the institution-focused market failed CME to make a difference in investor sentiment.
Etherna’s (ETA) token manage Developing a Blockchain -owned Through the tokenized asset issuer securitize, which aims to connect decentralized finances (DEFI) and traditional institutions.
The main US stock indexes that expand their bounce this week have provided a desirable backdrop for risk ownership. However, LMAX Group Strategist Joel Kruger has warned that the S&P500’s monthly chart suggests a prolonged correction for US equality, which can be weighed in cryptocurrencies.
“When we consider the state of global trade intensity and concerns around a slowdown in the US economy, all this time it is increasingly uncertain how much the fed is offering, there is a real reminder that stocks can fall,” Kruger said.
He noted that there was a potential for a lower one for the BTC to revisit the 2024 March peak at $ 73,000- $ 74,000.
The near-universe market expects the Fed to keep the rates of the federal open market committee unchanged, but investors should guard any potential change in the balance of the central bank’s sheet, or quantity program (QT), David Duong, head of research at the coinbase institutional.
“We think the Fed can pause or finish the QT program this week, as bank reserve levels close to 10-11% of GDP levels are generally considered sufficient for maintaining financial stability,” he wrote in a Monday report.
He said the recent sale of crypto was largely due to Macro’s concerns and worsening of liquidity conditions, which could be better in the next quarter, providing the tail for asset prices. “Crypto prices can find their bottom in the next few weeks before rebounding to new highs later this year,” he concluded.
