Crypto Analysis: Crypto 'Oversold'... Keep an Eye on FOMC Next Week
CryptoNewsTerminal Staff08 Sep, 2024
Crypto Analysis: Crypto 'Oversold'... Keep an Eye on FOMC Next Week
Cryptocurrency options specialist Greeks.live's macro researcher, Adam, analyzed the situation through X and commented, "Currently, the cryptocurrency market is in a state of low investor confidence and remains oversold. The implied volatility (IV) of the options market has increased in the short to medium term, in line with the US Federal Open Market Committee (FOMC) next week." This could indicate that investors are pricing in the uncertainty surrounding the FOMC's decision on interest rates. The FOMC is expected to raise interest rates by 50 basis points, which could lead to further volatility in the crypto market. Investors should keep an eye on the FOMC's decision next week and be prepared for further volatility.
