SHAFAQNA TURKEY – Bitay Research Analyst Alper Samet Yorak rated cryptocurrencies in 24 hours. Yorak’s assessment is this;
The market, which is expected to be Falcon and which will shed light on a 50 basis point interest rate hike at the next monetary policy meeting, priced the market with relief following the announced minutes. According to the Fed’s minutes, officials believe that the rate hike process should continue for some time, but reducing the rate of increase to 25 basis points is the right move. US markets, which have recorded a pullback of almost 5% over the past four days, relaxed after these reports and managed to close the day with a plus four days later. Likewise, the crypto money market, which has been down 5% over the past two days, has rebounded after the evening hours and turned its attention back to the $25,000 resistance. Bitcoin dominance remained unchanged at 44.2 while Ethereum dominance rose to 19.2. The total value of the cryptocurrency market has again exceeded $1.1 trillion. Altcoins, on the other hand, have risen since last night. The top growing cryptocurrencies on Bitay yesterday were ACH, AMP, DODO and RVN.
After yesterday’s Fed minutes, which contained positive messages about expectations, US futures markets in the morning followed a positive trend. The new day sees an increase in risk appetite. While there are no major macro data before the end of the week, they will be followed by data on consumer inflation in the Eurozone, which will be announced at 1300 Pacific time. While inflation is expected to increase in five months, there is pressure on the euro. Stronger-than-expected data could put pressure on global equities. However, we believe that the data will have a direct and major impact on the cryptocurrency market.
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