From Coingape: 2024-07-27 22:30:49

The crypto market gears up for a pivotal week with a focus on the FOMC interest-rate decision, Powell’s speech, and US job data. Expectations for a rate cut surge, with an 89% chance of a 25 bps cut in September. Powell’s comments could sway market sentiment significantly.

US unemployment data for July, due on August 2, will offer insights into the labor market’s health. The Fed closely monitors this data for policy decisions. Market estimates predict a decrease in unemployment rates, impacting both crypto market sentiment and broader financial sectors.

Anticipation and speculation soar as the cryptocurrency market braces for potential rate cuts, Powell’s remarks, and job data. Investors await market reactions and trends post-events. This week could be a turning point, revealing the link between traditional financial policies and the digital asset market’s future.

Last week saw positive developments for the crypto market, with the SEC approving a US Spot Ethereum ETF and the Bitcoin Conference 2024 in Nashville. Bullish outlooks on Bitcoin and the US’s crypto sector focus were highlighted at the event. Cantor Fitzgerald also plans to launch a $2 billion Bitcoin financing fund.



Read more at Coingape: FOMC & Jerome Powell’s Speech In Focus Amid Fed’s Rate Cut Talks