Crypto Market Reacts to Fed Comments Ahead of Major Data

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At its September meeting, the Federal Open Market Committee took the unusual move of decreasing its benchmark interest rate by half a percentage point, or 50 basis points, to a target range of 4.75% to 5.00%. This remains an uncommon move by the Fed, which prefers to move in quarter percentage point increments or 25 basis points. Waller, however, did not commit to a clear course forward.were showing gains. Bitcoin is up 1% in the previous 24 hours and 5% in the last seven days.

Bitcoin Cash, MEW and Book of Meme had gains ranging from 10% to 12% in the last 24 hours. Ethena, Notcoin, WorldCoin, Hedera, Lido DAO and Core all saw gains ranging from 5% to 9%. Meanwhile, a few cryptocurrencies saw losses, including TAO, WIF, Wormhole, Toncoin, Avalanche and SUI, which ranged from 2% to 7%.Investors are also anticipating upcoming economic data releases, including insights from the manufacturing sector on Tuesday and the most recent consumer inflation expectations survey.

Data releases and policymakers' remarks are being extensively scrutinized for clues about how the U.S. economy is doing, as they consider the future for monetary policy, particularly any further interest rate decreases.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends.

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