![]() ![]() The GDP report, on the other hand, could act as an economic health indicator. ![]() Similarly, outcomes from the FOMC meeting could shift investor sentiments and influence capital flows within the crypto market. For instance, higher-than-expected CPI data could reflect inflationary trends, prompting investors to seek inflation hedge assets such as Bitcoin, thereby driving up its price. The impending economic events and reports could potentially have significant impacts on cryptocurrency prices, both in positive and negative ways. Possible Influence of Economic Events on the Crypto Market XRP is back to the $0.46 resistance level. However, Bitcoin has managed to secure its position above the $30,000 benchmark, while Ethereum is maintaining a steady position around the $1,850 mark. The price patterns of leading digital currencies such as Bitcoin, Ethereum, Binance Coin (BNB), XRP, Cardano, and Dogecoin have followed suit, all exhibiting a downward trend. The combined value of the cryptocurrency market has dipped slightly, recording a 0.8% decrease within the last 24 hours. Crypto Market Performance: A Momentary OverviewĪmidst this economically charged calendar, the crypto market is currently demonstrating a somewhat bearish trend. In addition to that, July 27 carries a dual significance as it hosts the GDP report release as well as the European Central Bank (ECB) meeting. Furthermore, towards the end of the month, the Federal Open Market Committee (FOMC) is slated to meet on July 26. On July 12, we have the release of the Consumer Price Index (CPI), followed by the Producers Price Index (PPI) data release on the 13th. ![]() What dates are you watching?- CoinGecko July 10, 2023 ![]()
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