My people! Pay attention to this! Although crypto news always keeps us on edge, the truth is that what Jerome Powell himself, the head of the Federal Reserve (Fed), says continues to shake the crypto market more than you can imagine! 😱
There is a brutal uncertainty in the world of finance, all due to interest rates and the monetary policies being implemented in the United States. And hold on, because with the pressure that President Donald Trump is putting on, Powell is expected to make some significant economic changes in the coming weeks.
Analysts are keeping a close eye, waiting for the speech from the Federal Open Market Committee (FOMC) and the Chair of the Fed next week. They want to see how this will impact Bitcoin and altcoins! It's like waiting for a decisive football match! ⚽
Is a Change in Interest Rates Coming? The Big Question! 🤷🏽♀️
Since the beginning of the year, people have been hopeful that the FOMC will lower interest rates. They have defended themselves by saying that things are uncertain due to the tariff wars that President Trump initiated.
But watch this! In recent weeks, the United States has signed super important trade agreements, even with China! This lifts a huge weight off the issue of tariffs.
That's why those who want interest rates to drop are convinced that this change is more than enough for the FOMC and Jerome Powell to give the economy a breather. Additionally, if we add other positive data, such as U.S. inflation (CPI) and PMI data (which measure economic activity), the chances of a rate cut look even greater!
In May, the CPI rose by 2.4% month-on-month and nearly 2.9% year-on-year, better than expected! If the rate cut happens next week, crypto prices could soar spectacularly! It would be like a party! 🎉
More Uncertainty in the Air! Is Powell Staying or Leaving? 😬
With the position he holds, any comment that Jerome Powell makes about the economy or the market could change everything! And here's another gossip: there is a giant uncertainty about whether Jerome Powell will continue to be the Chair of the Federal Reserve.
In recent weeks, it has been rumored that President Trump could fire him, because people criticize him for not lowering interest rates. Even Bill Mitchell mentioned it on X!
But despite everything, the U.S. president already said he is not going to remove him from his position until his term is over. Thank goodness! However, be careful! Powell's comments after next week's FOMC meeting could change everything. If the market perceives that the Federal Reserve is unstable, it could further destabilize Bitcoin and altcoin prices! It would be a free-for-all! 🏃🏽♀️
Bitcoin and Altcoins: In Everyone's Sight! 👀
Last week, the geopolitical tension between Israel and Iran unsettled the tranquility of Bitcoin and altcoins. The price of BTC fell from about $107,000 to a low of $102,000, and there were more than $1.4 billion in cryptocurrency liquidations in a single day! A madness! 🤯
Altcoins like Ethereum (ETH), XRP, and Binance Coin (BNB) also lost a good chunk of their value. Right now, Bitcoin is at $104,761, down 1.02%. And ETH also dropped 2.11% in 24 hours, reaching $2,513.
But watch out, it seems things are softening a bit, as whales are accumulating cryptos again. If the crypto market breaks strongly after the FOMC meeting ending on June 18, we could see a widespread rise. According to experts, BTC could surpass its recent all-time high and reach up to $120,000! Just imagine that bill! 🤑
So, let's be super attentive to what’s coming! The eyes of the crypto world are on Powell and the FOMC. Will the expected rise come, or are we in for another scare? Only time will tell!$ETH $BTC $XRP
