The leading crypto has pulled back after the ATH it saw in the month and has been fluctuating above $60,000 for a while. As Bitcoin struggles to maintain the $60,000 monthly pre-close level, analysts say that the 2% pullback in Bitcoin price also triggered the sell-off in the altcoin market, which underlies the sparse greenish red before the monthly closes.
There is a meeting next week that will also interest Bitcoin and altcoin investors.
Next month’s agenda includes developments and decisions that will also closely concern the crypto market. So tomorrow, we will wake up to a busy week. First of all, the Fed’s monetary policy committee meeting will be held on 2-3 November next week and it is expected that the Fed will announce its interest rate decision on Wednesday, November 3 at 21:00. The FED, which kept the interest rate constant in the range of 0-0.25 in the previous meetings, is not expected to make any changes in this meeting as well.
On the other hand, experts warn that a volatile week may be experienced as the markets prepare for the new week in the shadow of the FED meeting. cryptocoin.com As you can follow from the news, Bitcoin (BTC) started its own movement by separating positively from the US markets in October. It will now be followed whether this divergence will continue.
As usual, Jerome Powell is expected to make a speech after the FED meeting. Although there is a consensus that interest rates will be held constant, there are different expectations regarding the tone of Jerome Powell’s speech. Therefore, the ears of the markets will be on the statements of Jerome Powell. Will the Fed choose to be a pigeon or a hawk? Details on tapering, which has been on the FED’s agenda for a long time, are expected to become clearer at this meeting. From Jerome Powell’s speech, it will be tried to catch clues about whether there is a change in the FED’s perspective on inflation concerns in the light of tapering, the calendar and the latest data on the interest rate hike process.
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