Crypto Market on Edge: FOMC Meeting and Powell’s Speech Set to Shape Week

The cryptocurrency market is navigating a cautious week, with investors anxiously awaiting crucial signals from the U.S. Federal Reserve (Fed). Bitcoin has dipped below $113,350, experiencing a 2% decline in just one day and a significant drop of nearly 9% from its recent peak. Ethereum trades around $4,156, facing double-digit weekly losses. Meanwhile, altcoins such as XRP and Cardano are also under pressure. A shift in sentiment has occurred from optimism (56%) last week to fear (45%) today, with traders bracing for the Fed’s decision on how hawkish or dovish they will be regarding future monetary policy.