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This week brings pivotal events in both the economic and crypto spaces. The US Federal Reserve’s anticipated interest rate decision could shake global markets while Donald Trump prepares to launch his new cryptocurrency platform, World Liberty Financial. In addition, Solana’s Breakpoint event and MakerDAO’s transformation into Sky are adding excitement to the blockchain space. Several high-profile token unlocks, led by Arbitrum, are also set to increase market volatility. With political, economic, and blockchain developments all converging, this week promises interesting developments for the crypto sector. How the Fed’s Rate Decision Could Shape Crypto’s Near Future This week, the Federal Reserve’s interest rate decision is causing major speculation, particularly for risk assets like cryptocurrencies. CME Group data suggests a 59% chance of a 50 basis point (bps) cut and a 41% chance of a smaller 25bps cut. Historically, interest rate changes have significantly affected the crypto markets, particularly for assets like Bitcoin, which were under pressure during September, a month traditionally difficult for crypto. Analysts at crypto research firm Kaiko point to Bitcoin’s (BTC) “September Effect,” a phenomenon in which the cryptocurrency has declined in seven out of the last twelve Septembers. This trend has continued in 2024, with Bitcoin falling 7.5% in August and another 6.3% so far in September. Read more: How to Protect Yourself From Inflation Using Cryptocurrency BTC Monthly Price Change in September. Source: Kaiko Adding to the mix is a spike in volatility across both Bitcoin and Ethereum. Bitcoin’s 30-day volatility has jumped to 70%, marking almost double last year’s level. Meanwhile, Ethereum’s volatility has also increased, fueled by events like the launch of the Ethereum ETF. “On a brighter note, the rise in crypto volatility has been accompanied by increased market participation, at least in the Bitcoin market. Bitcoin’s cumulative trade volume for the first…

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Filed under: News - @ September 16, 2024 5:19 am