This week, the crypto market was volatile, mainly affected by the FOMC meeting forecast, macroeconomic data, and the legal issues of Telegram and Ripple. Although the stock market fell due to the rumors of Nvidia, the crypto market eased after the AI ​​company denied the rumors. At the same time, the legal dynamics of Telegram and Ripple continued to trigger market speculations, and investors were full of uncertainty about the future direction of the market.

Key Points

- This week, the crypto market experienced sharp fluctuations on the eve of the upcoming FOMC meeting.

- The JOLTS data in the United States showed a decline in job opportunities, and the market's expectations for a 50 basis point rate cut by the Federal Reserve increased.

- Telegram was further investigated for its CEO's legal issues in France.

- In Ripple's XRP lawsuit, the parties agreed to a recess, leading to new speculations in the market about the movement of XRP.

- The Bank of Japan hinted that it might raise interest rates, affecting the overall sentiment of the market.

- Ripple's executive chairman supported Democratic candidate Kamala Harris, which made the market pay attention to Ripple's political dynamics.

- Investors are generally cautious about the current crypto market, especially in September, which is historically regarded as a poor month for the market.