The crypto market could face more volatility during today’s trading session. The U.S. Federal Reserve is set to host its Federal Open Market Committee (FOMC) meeting and possibly announce a hardline approach to combat inflation.
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Inflation metrics have been at their 40-year high versus the U.S. dollar. Thus, investors expect the financial institution to announce a hawkish monetary policy to try and bring down inflation which has been impacting the crypto market and risk-on assets.
At the time of writing, Bitcoin is barely hanging above $20,000 and records a 33% loss in the last week. Ethereum records a 40% loss over the same period with smaller cryptocurrencies trading in the red.
BTC trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview
Trading desk QCP Capital recently posted a market update highlighting the levels of panic in the crypto market. As Bitcoin and other larger cryptocurrencies trended to the downside, major crypto companies faile ..
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