🚨 FOMC WATCH | Crypto Market Under Pressure
The crypto market is facing a major macro + regulatory test today.
🇺🇸 The CLARITY Act failed to advance in the U.S. Senate, with the cloture vote ending 49–50.
📉 Bitcoin dropped below $76K
💸 U.S. spot Bitcoin ETFs saw around $450M in outflows
🔻 XRP fell nearly 10%
🔻 ETH and SOL also moved lower
Meanwhile, the Federal Reserve's policy decision is due today. Markets are widely expecting a 25-basis-point rate hike, making the Fed statement and press conference especially important for crypto.
Another interesting development: Bitcoin's short-term correlation with traditional markets has weakened, suggesting crypto-specific factors are having a larger influence on price action.
Today could bring significant volatility. Keep an eye on BTC, ETF flows, and the Fed's guidance. 📊
#Bitcoin #BTC #XRP #Crypto #FOMC #CryptoNews #BinanceSquare
The crypto market is facing a major macro + regulatory test today.
🇺🇸 The CLARITY Act failed to advance in the U.S. Senate, with the cloture vote ending 49–50.
📉 Bitcoin dropped below $76K
💸 U.S. spot Bitcoin ETFs saw around $450M in outflows
🔻 XRP fell nearly 10%
🔻 ETH and SOL also moved lower
Meanwhile, the Federal Reserve's policy decision is due today. Markets are widely expecting a 25-basis-point rate hike, making the Fed statement and press conference especially important for crypto.
Another interesting development: Bitcoin's short-term correlation with traditional markets has weakened, suggesting crypto-specific factors are having a larger influence on price action.
Today could bring significant volatility. Keep an eye on BTC, ETF flows, and the Fed's guidance. 📊
#Bitcoin #BTC #XRP #Crypto #FOMC #CryptoNews #BinanceSquare