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Sunday, February 5, 2023

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Bitcoin (BTC) on track to start the week above $17k; what can shake the crypto market?

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This week will be one week before the last Federal Reserve meeting (Image: Pexels/shutter_speed)

O Bitcoin (BTC) is traded this Sunday close to the price that ended on Friday (2), at US$ 17,000. The volatility of the crypto market as a whole tends to be low on weekends, largely because traditional markets are closed.

O Ether (ETH) also sideways and parks just before $1,300. the value of crypto market it is at US$ 850 billion and does not count with great variations.

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This week will be one week before the last meeting of the Federal ReserveCentral Bank of United States🇧🇷 Throughout the year, the Fed has been making contractionary decisions to raise its interest rate, which supports risky assets, including the crypto market.

The market may spend the week pricing in the Federal meeting. In case of an increase of 0.75% and a speech to maintain the current economic policy, analysts say that it will be possible to witness more falls until the end of the year.

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In a scenario where the perspective is of an increase of 0.50%, less than in past meetings, the scenario could be of increases until the end of the year, as predicted by analysts.

The crypto asset that rose the most this Sunday is Celo (CELO) – a first layer blockchain that seeks to increase the adoption of crypto assets by mobile devices – with an appreciation of 20% at US$ 0.71.

The Fear & Greed Index is down one point since yesterday, and is currently at 26. The crypto market remains in the “fear” zone, without dropping into “extreme fear”, or rising into optimism.

Latest Crypto Fear & Greed Index

The “Fear & Greed” index, or fear and optimism, seeks to represent these feelings that surround the market. The index scale is from 0 to 100 points, where the closer to zero fear is extreme, and from 100 optimism reigns.

Source: Moneytimes

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