FOMC Minutes Goes Public Tomorrow – BTC & ETH Values Continues to Plunge

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Market Signals a Gloomy Outlook, BTC and ETH Sharply Decline
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  • The U.S. FOMC minutes reports are yet to release on November 23, 2022. 
  • Despite the reports, prices of ETH and BTC continue to decline. 
  • The fall of ETH hit its lowest point of $1,081.14 today. 

The Federal Open Market Committee (FOMC) members usually release the updated reports of the inflationary scenario in the economy. Further the FOMC meeting held on November 1-2 will be revealed tomorrow with the current insights of the crypto markets. 

As the entire investor community is awaiting for the release, the popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are still in freefall. Surprisingly, ETH is dipping down to $1100 with a bearish graph in the last 24 hours. On the other hand, it is evident that BTC is also plummeting with red margins. 

Anticipating further updates in the current U.S. policy, many are looking forward to the reports of the FOMC minutes, tomorrow. 

ETH prices continues bearish

As the entire crypto market is experiencing the downtrend, all the digital assets are sloping down its prices. Moreover, the top two cryptocurrencies are also in a worst state dipping down to their least margins. 

The overall market performance of Ethereum (ETH) is declining day by day, facing a third consecutive fall today. Further the graph of the token is pointing down moving to a low point of $1,081.14. More so, earlier from November, ETH is trading at its crucial points dipping below $1100. However, the continuous market crunch will lead the crypto asset to fall hitting its weak points. 

Unexpected BTC fall

Bitcoin is the top leading cryptocurrency, which withstands the Covid-19 pandemic and the LUNA crash. Unfortunately, the ongoing crisis of FTX affected the coin to a great extent. Significantly, the price of BTC fell into the well, trading at not less than $16,000. But all investors, crypto analysts are predicting for BTC to reach $10K soon. And, if this critical state for the crypto market continues, then it paves a way for it. 

Thus, analysing the current market status, FOMC meeting minutes will provide the cues for the investors and other analysts to know the next interest rate increase of the market.

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