The post Crypto Traders Turn Cautious on Volatility & Liquidity Issues Ahead of FOMC, US Elections appeared on BitcoinEthereumNews.com.

It’s going to be an important week on the political and macro front with the US election results, and the Fed Rate cut expectations ahead. The race between Donald Trump and Kamala Harris is once again getting pretty close as crypto traders maintain caution ahead of the final results. The Bitcoin (BTC) price continues to stay under $70,000 levels while altcoins faced even greater selling pressure over the last weekend. Thus, the broader crypto market prepares for volatility and liquidity stress this week. Crypto Traders Brace for FOMC and US Election Volatility Bitcoin (BTC) closed the month of October under the crucial resistance of $70,000 after failing to hit a fresh all-time high-level last week. Altcoins also faced strong selling pressure as crypto traders sought caution ahead of the FOMC meeting and US election results. On Thursday, November 7, the Federal Reserve will announce its latest interest rate decision. As per the CME data, there’s a 99.7% probability of a 25 basis points rate cut. On the other hand, the US Election voting will begin on November 5, with results expected around November 6, which is likely to impact the broader financial and crypto market. Key Events This Week: 1. U.S. Presidential Election – Tuesday 2. ISM Non-Manufacturing PMI data – Tuesday 3. Initial Jobless Claims data – Thursday 4. Fed Interest Rate Decision – Thursday 5. MI Consumer Sentiment data – Friday 6. ~15% of S&P 500 companies report earnings… — The Kobeissi Letter (@KobeissiLetter) November 3, 2024 In recent weeks the crypto market has been largely reacting to US political development as well as staying macro-driven. Thus, it could largely follow the trajectory of the S&P 500 moving ahead. According to The Kobeissi Letter, historical data suggests that when the incumbent party—in this case, the Democrats—appears likely to…

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Filed under: News - @ November 4, 2024 5:26 am