Crypto Rollercoaster: BTC slips its support zone, FED comments shake the entire markets. What is next?

Crypto Rollercoaster: BTC slips its support zone, FED comments shake the entire markets. What is next?


Dear Readers,

Today the global crypto market cap is value is reduced over by 3% and is valued at $3.33 Trillion.

The crypto market has begun to move higher after the US Presidential Election and the President Elect Donald Trump in anticipation of the pro-crypto policies may happen in US.

This was happened with the campaign propaganda of Donald Trump on Crypto Friendly speeches and its action plan for crypto.

So everything was going fine in the crypto world and the investors were also so happy with these developments.

BTC also crossed the historic 100K landmark in the first time. 

Then there were some consolidations happened but still BTC moved higher and touched its ALH 108268 USD.

Then, everyone expected that the US FED meeting.

As expected the US FED reduced the interest rates by 25 basis points.

This is all in expected line only.

But the FED Chairman's media speech, turned everything down in the crypto world. 

The inflation would also be a matter of greater concern.

He categorically said that the crypto holding cannot be done by the Central Bank as it has the Gold reserve with the current legislations.

This is totally contrary to what all the people have believed and the interest put forth by Donald Trump.

So, it is quite unclear that the pro crypto policies in US and went wrong with the positive sentiments.

Also many suggested there will be some cool off period in the market.

So, we need to have a wait and watch approach related how the US Government led by Donald Trump would take this policies and approached forward in his regime.

But, we believe that his close aids including Elon Musk and Vivek Ramasamy are so much supporters for Cryptos.

Hope these all would be addressed properly by the US Government.

We also understood that the crypto ETF flows are very high and there are massive buys at the lower level.

Market is in need of a positive speech which would bolster the moves again in the upward journey.

At present BTC is trading at 97346 USD which is a lower of 3% from yesterday.

BTC dominance is going higher with 57.5 which gives alt coins little hope for greater pumps.

The fear greed index is still at 62, which is greed.

If there are good buying chances in the market, let's use it wisely to capitalise the situation!

So happy investing and good profits with the stay in the market!

 

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