Ethereum’s Sentiment Drops as FOMC Meeting Nears - BitcoinEthereumNews.com
Ang market insight provider ipinaliwanag: “Ethereum had an up and down Sunday, jumping above $1,640 before dipping back down to $1,540. The trading crowd continues to not believe the hype, and is expecting prices to fall heading into the FOMC meeting. ETH should continue to stay volatile.” Pinagmulan: Santiment Bilang bahagi ng Federal Reserve (Fed), the FOMC determines the direction monetary policy will take, and it has resorted to interest rate hikes in the recent past. For instance, the interest rate was increased by 75 basis points (bps) last month, the highest surge in 28 years. With the FOMC meeting slated for July 27, all indicators are that the interest rate might experience a similar hike. Mike McGlone, a senior Bloomberg Intelligence commodity strategist, recently naglalagay: The Fed is using a sledgehammer on commodities and risk assets. Down about 20% since the June 75 bps rate-hike, the aftermath of another 75 in July may be similar for the three Cs – crude oil, copper, and corn. The pamilihan ng sapi maaaring mas mahina kaysa sa krudo. Meanwhile, crypto analyst Ali Martinez noted that Ethereum should hold $1,550 to avoid a pullback because it is a significant support level. He tulis out: “Transaction history shows that Ethereum formed