Global #Federal Reserve

The cryptocurrency market is poised for a major event on August 23, 2024, as Bitcoin and Ethereum face a combined options expiry worth $1.5 billion.

Benjamin Cowen, a prominent crypto strategist, has recently shared insights on the crypto market’s potential trajectory, emphasizing the Federal Reserve's role in influencing Bitcoin's performance.

The Federal Reserve Bank of Boston’s President Susan Collins recently suggested that the central bank might consider easing interest rates soon. This potential shift, with cuts possibly beginning on September 18, could significantly impact financial markets, sparking a bullish trend.

As of now, Bitcoin and major altcoins exhibit stability, yet the aftermath of the weekend's sharp liquidation has left a significant impact on the market. The recent wave of liquidations, which saw billions in leveraged positions wiped out, has created a technical pressure on prices, even though the market seems stable at press time.

Bitcoin experienced a dramatic roller-coaster week, moving from the brink of its all-time high to a significant drop. On Monday, Bitcoin surged close to $70,000 per coin on Coinbase, America's largest crypto exchange.

Bitcoin's recent attempt to break through the $70,000 price ceiling has been met with strong resistance, dashing hopes of a sustained recovery following the Federal Reserve's latest policy announcements