That is a spot-on observation. The charts show both Bitcoin (BTC) and Ethereum (ETH) hovering right below their 50-week moving averages (MA50), making this macro-heavy week a crucial inflection point for spot traders.
The macro catalysts hitting this week carry massive weight for market direction:
Clarity Act Vote (September 15): The procedural vote on the crypto market structure bill narrowly failed in the Senate (49-50), falling short of the 60-vote threshold needed to advance. This regulatory setback has injected short-term uncertainty and selling pressure into risk assets.
FOMC Interest Rate Decision (September 16): Markets are bracing for the Federal Reserve's announcement, with expectations heavily leaning toward a 25 bps rate hike (taking rates to 3.75%-4.00%) driven by sticky inflation and high oil prices. A tightening move typically acts as a headwind for risk-on markets like crypto in the short term.
Bank of Japan Decision (September 18): Following close behind, the BOJ's policy update will add to global liquidity and currency market volatility.
$BTC $ETH
#dyor
The macro catalysts hitting this week carry massive weight for market direction:
Clarity Act Vote (September 15): The procedural vote on the crypto market structure bill narrowly failed in the Senate (49-50), falling short of the 60-vote threshold needed to advance. This regulatory setback has injected short-term uncertainty and selling pressure into risk assets.
FOMC Interest Rate Decision (September 16): Markets are bracing for the Federal Reserve's announcement, with expectations heavily leaning toward a 25 bps rate hike (taking rates to 3.75%-4.00%) driven by sticky inflation and high oil prices. A tightening move typically acts as a headwind for risk-on markets like crypto in the short term.
Bank of Japan Decision (September 18): Following close behind, the BOJ's policy update will add to global liquidity and currency market volatility.
$BTC $ETH
#dyor
