1. Crypto prices have surged over the past 9 months, driven by optimism that the Federal Reserve will pivot off high-interest policy sooner than expected, following cooler inflation data.
2. Bitcoin is back in the 20s, Ethereum has crossed $1,500 and altcoins are powering north; leading the charge is Solana, up 130% since the start of the year.
3. The next major event for crypto markets is February 1st, when the Fed will decide on its latest interest rate policy.
Cryptocurrency markets have been experiencing a surge of activity over the past nine months, driven by optimism that the Federal Reserve may pivot off their high-interest policy sooner than expected, following cooler inflation data. This has been reflected in the impressive price increases seen across the board, with Bitcoin back in the 20s, Ethereum having crossed $1,500, and altcoins powering north.
Leading the charge has been Solana, which has seen an impressive 130% increase since the start of the year. This bullish sentiment has extended to other altcoins too, with Dogecoin and Shiba Inu again making moves. The crypto market is clearly pricing in the possibility of an earlier-than-expected Fed pivot.
The next big day for crypto markets is February 1st, when the Federal Reserve will be deciding on its latest interest rate policy. While the Fed is expected to hold steady for the time being, any hint of a change in direction could have a major impact on the crypto markets.
Investors are also keeping an eye on the Biden administration, which is currently in the process of implementing a $1.9 trillion stimulus package. This could provide a major boost for the crypto markets, as increased consumer spending leads to increased demand for digital assets.
Overall, the crypto markets are in a very strong position and are likely to remain that way. While there are still risks to consider, such as the potential for increased regulation, the current outlook is very encouraging. With the Federal Reserve’s decision on interest rates looming, the crypto markets will be worth keeping a close eye on over the coming weeks.