Forex. Cryptocurrency Forecast for today.
At the moment, this is a strong psychological level. If there is a breakdown of this mark, then panic sales may begin.
The capitalization of the cryptocurrency market on Thursday amounted to 1.91 trillion US dollars against 1.96 on Wednesday. You can see the build-up of short positions on the part of market participants.
The world's largest digital assets continued to weaken from the beginning of 2022 amid expectations that the US Federal Reserve System (FRS) will soon begin to tighten monetary policy. The BTC/USD exchange rate has decreased by 9.3% since the beginning of the year, while ether is the second most capitalized cryptocurrency after bitcoin - by 14.5%.
The Fed is expected to raise the base interest rate in March, and raise it at least three times in 2022. Some experts believe that the rate hike in March may amount to more than 25 basis points. The next meeting of the Fed will be held on January 25-26, and the market is waiting for "hawkish" comments from the Central Bank's leaders.
Today, the foreign exchange market and the cryptocurrency market will be influenced by important news. The index of leading economic indicators of the United States and the speech and speech of Finance Minister Janet Yellen will be released in the United States. Another strengthening of the US dollar will only reduce the quotes of cryptocurrencies.