O Bitcoin (BTC) and the crypto market dawned with slight losses. The biggest cryptocurrency in market value it falls 2% on the morning of this Wednesday (7). O ether follows in the same direction, and fell 3%.
The market value retreats 1.61% and starts to be priced at US$ 839.51 billion. But according to the Fear & Greed Index, the market is less fearful than the day before.
Today’s index score is 29, the crypto market is 4 points more bullish than the previous day. The index has moved out of the “extreme fear” zone, but is still in the “fear” zone.
The market anxiously awaits the last meeting of the Federal Reservethe FOMC, which will give you a taste of how US monetary policy United States should be dealt with by the end of the year.
The dominance of Bitcoin (BTC) and the ether (ETH) among crypto assets are respectively 38.5% and 17.9%.
André Franco, chief analyst at Mercado Bitcoin, says it could be the calm before the storm. According to the analyst, this week ends up being a preparation for the following week, which in addition to the FOMC, will have the number of the consumption index in the United States
“It is good to remember these dates that move the global market, mainly the macroeconomy in general, which are the American inflation data and the Fed meeting to decide on the interest rate. fees”, he explains.
As he says, these dates will be very close to each other, with hours of difference next week, and may dictate how the crypto market can behave until the end of the year.
Source: Moneytimes
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