From Coingape: 2024-04-29 01:11:46

Over the weekend, the cryptocurrency market saw Bitcoin’s price drop by 2.2% to under $62,500, with altcoins facing even greater selling pressure. Analysts predict the Federal Reserve will maintain interest rates on May 1, with US GDP data suggesting economic slowdown and inflation challenges. Market sentiment indicates fewer interest rate cuts expected for 2024.

Bitcoin volatility has decreased, while Ethereum’s risk reversals indicate doubts about spot Ether ETF approval. Market sentiment is uncertain, with attention shifting to the upcoming start of Hong Kong Bitcoin and Ethereum spot ETF trading. Anticipation is high for potential influx of institutional capital from Asia into the crypto space.



Read more at Coingape: Bitcoin and Altcoins Come Under Pressure Ahead of Fed’s Interest Rate Decision on May 1