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In the past week, the Fed Chair stated that"the time has come for policy to adjust," raising hopes for a rate cut at the central bank's next meeting. Powell, however, declined to disclose specifics about the timing and scope of the cut.The crypto market fell as investors anticipated the latest batch of inflation data. Several crypto assets are presently in the red.was down 2.97% in the last 24 hours; Ethereum, Shiba Inu, Solana and Chainlink were posting losses between 3% and 6%.
In the days ahead, market participants will watch to see how the crypto market reacts to the recently released data. However, in the very short term, the crypto market faces selling pressure.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. Tomiwabold earned his degree at the University of Lagos.
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