While uncertainty still continues in the market following the declines in Bitcoin and altcoins, a new analysis Bitcoin ve Ethereum’da It was revealed that there may be a correction this week.
Singapore-based cryptocurrency trading firm According to new analysis by QCP Capital, BTC and ETH may experience corrections following FED Chair Jerome Powell’s statements this week.
Highlighting growing concerns that the U.S. job market may not be as strong as expected, QCP Capital said Jerome Powell is expected to address these concerns at his upcoming Jackson Hole meeting.
The Fed is delaying rate cuts due to a stronger-than-expected job market and a strong economy, QCP analysts said. September FOMC He said it was unlikely that a definitive decision would be taken on interest rate cuts before the meeting.
QCP lastly said that Powell’s comments could reverse the recent stock market rally, push BTC and ETH below support levels, and corrections could occur.
Despite all the uncertainty in the market, the Fed is still expected to cut interest rates in September, QCP added.
“….
A particularly lenient Powell could reverse the 2-week stock rally and push Bitcoin (BTC) and Ethereum (ETH) below their support levels.
Regardless of the revision, the Fed appears ready to cut in September. The market is currently pricing in 3.7 cuts in 2024 and 4.5 in 2025.”
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/bu-haftaya-dikkat-analiz-sirketinden-bitcoin-btc-ve-ethereum-eth-icin-duzeltme-uyarisi-geldi/
