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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The most important things moving digital currencies this week

    Rocky
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    • Post n°1

    The most important things moving digital currencies this week Empty The most important things moving digital currencies this week

    Post by Rocky Mon 11 Sep 2023, 6:50 am

    The most important things moving digital currencies this week

    The most important things moving digital currencies this week 35752



    Market
       


    Economy News - Baghdad
    Cryptocurrency markets are entering a critical week as important data will be announced that all markets are closely following.
    US CPI data to be released in the middle of this week and Producer Price Index data to be released the next day will also be closely followed by all markets. It can also be noted that volatility in cryptocurrency markets will rise again according to inflation rates, which the US Federal Reserve considers important data when making its decision on the interest rate.
    According to market participants, the continued downward trend in inflation data may loosen the Fed's grip, and the bank may make an important decision to keep interest rates steady this month. Thus, despite rumors that the Fed may increase interest rates again, an important step towards pivoting interest rates will be taken.
    Expected US inflation
    Some cryptocurrency market commentators believe that there could be a nice rally in the cryptocurrency markets as the Fed will take its hand off the table by pivoting in interest rates. So much so that the two currencies dominating the market, Bitcoin and Ethereum, continued their horizontal movement in the support zone for about a month. Positive inflation data, which will relax markets, may create a positive impact that is currently missing in cryptocurrencies. On the other hand, previous data shows that cryptocurrencies are a drag for sellers in September.
    Another development worrying the markets is that on the day US inflation will be announced, FTX will be slated to sell $3.2 billion worth of cryptocurrencies. If the court approves the sale of FTX assets, it could cause short-term panic selling in these markets. However, an adverse decision may combine this rise with potentially positive inflation data.
    Also, demand for the dollar continues to put pressure on cryptocurrency markets
    Commentators with different viewpoints argue that this situation is being priced in by the cryptocurrency market, based on the fact that the Fed's expectations of keeping interest rates steady this month are too high. Since some analysts expect another interest rate hike by the end of the year, this is a factor that is putting cryptocurrencies under pressure. So much so that the uncertain situation in global markets causes demand for the dollar to remain strong supported by the high interest policy pursued by the Federal Reserve. DXY started the week on a downward trajectory, testing the 105 levels last week, confirming that its risk appetite remains low. This ensures that the flow of funds towards cryptocurrency markets remains weak.
    Another important development during the week is the European Central Bank's announcement of its interest rate decision. The bank is expected to keep interest rates steady this month.
    In light of all these expectations, digital currency markets began the new week by maintaining their downward trend. Bitcoin also began the week's trading at $25,820, with a partial decline of 0.2% over the past 24 hours. On the other hand, Ethereum is moving around the $1,600 mark in the morning hours, with a decline of approximately 1%.


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    Added 09/11/2023 - 2:44 PM
    https://economy-news.net/content.php?id=36267
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