We are heading towards mid-December and the Fed meeting is less than 10 days away. Bitcoin (BTC) $98,523.4 It fell below 100 thousand dollars again. The ongoing volatility is no surprise to cryptocurrency investors. Alright cryptocurrency What kind of situation did investors encounter on the new day?
Bitcoin (BTC)
Protecting $99.091 as support Bitcoin (BTC) bulls continue to consolidate higher. However, it is hoped that the rise will accelerate as Trump’s official inauguration date in January approaches. For now, it can be said that the Fed meeting puts pressure on the price.
The latest data was largely in favor of cryptocurrency investors. Although members signaled a pause in interest rate cuts, inflation is still focused on the 2% target. Moreover, since taking the pause decision suddenly would be a surprise for the markets, the Fed may hold several meetings and discussions to trigger such an environment of uncertainty.
The key support level is at $91,000, and apart from a short-term lower wick, BTC has not fallen to these levels for a long time.
Cryptocurrencies Latest Status
ETH gained 6.44% on the week, but volumes weakened overall. The lack of volume over the weekend is not surprising, and total volume may recover from $165 billion to over $250 billion in the coming days. We have not seen major gains among the top 100 cryptocurrencies in the past 24 hours.
Weekly MOGG, LINKaltcoins like XMR gained over 20 percent. Especially Chainlink 
$25.3‘s 33.5% rise was an important comeback signal. According to Coinmarketcap data, BTC dominance lingers in the 54.2% region. The total market value of cryptocurrencies is at 3.63 trillion dollars.
Trump’s son Eric today Bitcoin MENA He will speak at the conference. It is expected that Trump’s views on cryptocurrencies will be confirmed by his son at the event in Abu Dhabi. Tomorrow, there is Microsoft’s Bitcoin vote, which we announced before. The company’s recommendation to shareholders was to vote to reject this.
Wednesday is the most important day of the week because US November inflation data future. If we see bad enough data that a pause decision can be finalized before the December 18 Fed interest rate decision, this will negatively affect cryptocurrencies, even if only for a short time.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
