FOMC

Jerome Powell

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-dips-below-30000-as-crypto-market-faces-turbulence/" data-wpel-link="internal">Bitcoin Dips Below $30,000 as Crypto Market Faces Turbulence</a> 
<a href="https://coin-turk.com/bitcoin-btc-yeniden-30-000-dolarin-altina-geriledi-kripto-para-piyasasinda-son-durum-2" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/anonymous-elon-musk-ile-savasa-hazirlaniyor-yeni-kripto-para-geliyor" data-wpel-link="internal">BTC</a>) and <a href="https://coin-turk.com/ethereumda-eth-son-durum-ne" data-wpel-link="internal">altcoins</a> went through a rough period last week, with uncertainties negatively affecting market sentiment. Notably, the consecutive five-day outflow of approximately $900 million from US-based spot <a href="https://en.coin-turk.com/prominent-on-chain-analyst-willy-woo-forecasts-a-tenfold-increase-for-bitcoin/" data-wpel-link="internal">Bitcoin</a> ETFs until March 22 sparked speculation of waning institutional interest in the crypto market on Wall Street. Amid these concerns, investors awaited the Federal Open Market Committee (FOMC) meeting, and although the market recovered somewhat after the Federal Reserve (Fed) chose to maintain its policy rate, the investigation into the US <a href="https://en.coin-turk.com/anticipations-in-the-crypto-market-bitcoin-etf-approval-and-ethereum-developments/" data-wpel-link="internal">Ethereum</a> Foundation and allegations that Ethereum (ETH) might be classified as a security shook the market. 
<h2 style="text-align: justify" id="strong-upcoming-statements-and-data-could-increase-volatility-strong">Upcoming Statements and Data Could Increase Volatility</h2> 
In the midst of the current fluctuations in the crypto market, a group of Fed officials is expected to make significant announcements this week. Atlanta Fed President Raphael Bostic, Chicago Fed President Austan Goolsbee, and Fed Board member Lisa Cook are scheduled to speak today, and their statements are anticipated to impact market sentiment. These officials are expected to provide hints about the Fed’s future interest rate hike plans in their remarks. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-332646" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-Altcoin-2.jpeg" alt="" width="1280" height="720"> 
Furthermore, speeches by Fed Governor Christopher Waller and Fed Chairman Jerome Powell in the coming days will be closely monitored by crypto investors as indicators that could influence market dynamics. 
In addition to these, several key economic data releases this week could further impact market movements. Consumer Confidence data coming on March 26 and the second revision of the Gross Domestic Product (GDP) data to be announced on March 28 will provide valuable insights into the health of the US economy. Following these data, Consumer Sentiment figures on March 28 and the Personal Consumption Expenditures (PCE) Index and Core PCE Index data on March 29 will be released, which will guide investors’ expectations regarding the Fed’s future interest rate decisions. 
<h2 style="text-align: justify" id="strong-bitcoin-halving-and-ripple-sec-hearing-strong">Bitcoin Halving and Ripple – SEC Hearing</h2> 
Despite the sharp fluctuations in the crypto market, analysts remain optimistic about a potential rally in Bitcoin and altcoins in the coming days, due to high expectations for the upcoming Bitcoin block reward halving, historically known to trigger price rallies. However, caution is still advised as past events do not guarantee future outcomes. 
On the other hand, the crypto market is also paying close attention to the <a href="https://en.coin-turk.com/artificial-intelligence-predicts-xrp-price/" data-wpel-link="internal">Ripple</a> – SEC hearing on March 26. The hearing is drawing interest from both the XRP community and the broader crypto market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-dips-below-30000-as-crypto-market-faces-turbulence/" data-wpel-link="internal">Bitcoin Dips Below $30,000 as Crypto Market Faces Turbulence</a></h5>

Bitcoin Dips Below $30,000 as Crypto Market Faces Turbulence

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