Crypto Market Forecast 17 September 2024
Sep 17, 05:21 PM
Over the next 24 hours on 17 September 2024, Bitcoin, Dogecoin, and Litecoin are expected to experience mildly bullish conditions, while Ether and Cardano are projected to see stronger bullish trends. Ripple’s XRP, on the other hand, may face slightly bearish conditions. Looking ahead over a one-week period, Bitcoin, Binance Coin, and Polkadot are likely to encounter slightly bearish trends, with Ether and Solana potentially facing more significant downturns.
Market activity remains relatively stable as investors anxiously await the Federal Reserve's decision on interest rates. The odds of a significant rate cut have increased, contributing to heightened market tensions. While there might be some short-term buying opportunities, broader market enthusiasm remains subdued, and timing will be key for any potential rally later in the year.
Bitcoin's price has decreased slightly, and MicroStrategy has announced plans to raise additional funds to purchase more Bitcoin. Meanwhile, Ethereum continues to underperform compared to Bitcoin, with its investment products seeing outflows. Binance's co-founder CZ is set to be released from jail later this month, and Donald Trump has launched a new crypto project, World Liberty Financial, with a significant portion of its tokens available to accredited investors.
Tether has minted $1 billion USDT on Ethereum at minimal cost, further increasing its market cap. Additionally, the SEC’s regulatory approach to digital assets is set to be scrutinized in an upcoming congressional hearing, and Bybit has received provisional approval for a VASP license in Dubai, moving closer to full operational status.
Market activity remains relatively stable as investors anxiously await the Federal Reserve's decision on interest rates. The odds of a significant rate cut have increased, contributing to heightened market tensions. While there might be some short-term buying opportunities, broader market enthusiasm remains subdued, and timing will be key for any potential rally later in the year.
Bitcoin's price has decreased slightly, and MicroStrategy has announced plans to raise additional funds to purchase more Bitcoin. Meanwhile, Ethereum continues to underperform compared to Bitcoin, with its investment products seeing outflows. Binance's co-founder CZ is set to be released from jail later this month, and Donald Trump has launched a new crypto project, World Liberty Financial, with a significant portion of its tokens available to accredited investors.
Tether has minted $1 billion USDT on Ethereum at minimal cost, further increasing its market cap. Additionally, the SEC’s regulatory approach to digital assets is set to be scrutinized in an upcoming congressional hearing, and Bybit has received provisional approval for a VASP license in Dubai, moving closer to full operational status.