The post Fed Meeting Triggers Bitcoin Decline and Altcoin Turbulence appeared on BitcoinEthereumNews.com.

Bitcoin‘s price has plunged to $52,550 within the last 24 hours, leading to a broader market downturn for altcoins. The upcoming Federal Reserve meeting on September 18, where a rate cut is anticipated, is generating significant market buzz. Investors have been on edge for weeks regarding the magnitude of the expected cut. Historically, pre-Fed meeting periods have seen negative volatility, but this time, bulls might have the upper hand as the first rate cut in a year approaches. Key Events This Week Several critical events are lined up for cryptocurrency investors this week. On September 10, Tuesday, Donald Trump and Kamala Harris will engage in a debate on ABC News, which could stir political tokens. Additionally, SUSHI is set to launch its Meme Coin Launchpad, Dojo. On September 11, US inflation data will be released, with expectations set at 2.6%, down from the previous 2.9%. Core inflation figures and a $66 million APT token unlocking are also on the schedule. Access COINTURK FINANCE to get the latest financial and business news. September 12 will see the European Central Bank’s interest rate decision, anticipated to be 4%, and the US Producer Price Index, expected to decrease to 1.7% from 2.2%. US jobless claims and the TUM Blockchain Conference also take place on the same day. The week will conclude with the unlocking of $3.66 million worth of RENDER tokens on September 14. What Impact Will These Events Have? The week’s most pivotal event will be the release of US inflation data. Should the data align with expectations, it could positively impact cryptocurrencies. The Trump-Harris debate may influence Trump-related tokens based on the candidates’ performances. Discussions on cryptocurrency policies during the debate could introduce additional market volatility. Harris has yet to make clear her stance on crypto, while Trump has already expressed…

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Filed under: News - @ September 7, 2024 12:07 pm