Investors in both cryptocurrency and traditional markets are turning their attention to the Federal Open Market Committee (FOMC) meeting scheduled for September 16-17, where it is believed to be the main catalyst for the next Bull Run.
According to market analysts, the charts for cryptocurrencies look 'too negative to be positive', suggesting that the recent decline in Bitcoin and Ethereum prices may serve as a signal to enter buy positions. Analysts believe that the current downtrend is merely a 'psychological game' played by investors to lock in profits before the Federal Reserve meeting.
It is believed that the Federal Reserve's decision to lower interest rates will have a positive impact on the market, as it will reduce borrowing costs and add liquidity, increasing confidence in high-risk assets like cryptocurrencies. This decision may also contribute to the long-awaited "Altcoin Season."
Despite the current recession in the market, some analysts believe that the downward trend may be misleading, and that there is an upward push coming soon, especially if the Federal Reserve makes a positive decision.