Summary
Cryptocurrencies and US equities fell as investors awaited the Federal Reserve update. Bitcoin and Ether experienced significant losses. The Fed is expected to hold interest rates, but markets are watching for forward guidance. Analysts predict rate cuts this year, but the Fed is likely to stick to its plan.
Key Points
1. Cryptocurrencies, including Bitcoin and Ether, experienced significant declines as US equities also slid in anticipation of the Federal Reserve’s update on Wednesday.
2. Analysts suggest that the current market situation does not warrant panic, as a 20%-30% decline in Bitcoin after reaching a record high is considered typical.
3. The Federal Reserve’s upcoming policy-setting meeting is expected to hold interest rates, but traders will closely monitor any changes in forward guidance that could impact the markets.