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Financial markets are interconnected, including the cryptocurrency market, which was initially isolated, but with the expansion of its field and the entry of investment institutions and funds, the situation has changed a lot, especially in the post-COVID era.
Financial markets are awaiting a key date tomorrow involving the Federal Reserve’s interest rate decision as well as U.S. oil inventory data.
If you ask what all this has to do with the cryptocurrency market, we will answer you as follows:
The oil market is an important reference for inflation expectations and interest rate approvals, which in turn affects the liquidity of risky assets such as Bitcoin.
According to what the analyst nicknamed “GugaOnChain” told him, the market is in waiting mode and tomorrow’s results on Wednesday could reshape the relationship between energy and digital currencies.
We will update in a later article what data is released and how the cryptocurrency market is affected.
Also read:
Numbers suggest XRP and ADA are currently worth less than Bitcoin: Details
