Crypto Market Volatility to Continue Amid Policy Uncertainty from US Fed, BOJ
CryptoNewsTerminal Staff06 Aug, 2024
Crypto Market Volatility to Continue Amid Policy Uncertainty from US Fed, BOJ
Crypto Market Volatility to Continue Amid Policy Uncertainty from US Fed, BOJ The crypto market is likely to continue experiencing volatility until clearer policies are released by the US Federal Reserve (Fed) and the Bank of Japan (BOJ). This is according to Singapore-based crypto exchange QCP Capital. "Yesterday's crypto market panic subsided heading into the US trading session with a Coinbase-led bid," noted QCP Capital. "Japanese stocks, which fell 12% yesterday, have rebounded by 9% today. It may be too early to call a bottom, however. The VIX, known as the fear gauge, has fallen from its 65 peak yesterday to around 30 today, but this remains elevated." Whispers of an emergency Fed rate cut are circulating, though QCP Capital believes this is unlikely, as it would confirm that a recession is imminent. "Significant leverage has been flushed out after yesterday's drop, and these discounted prices may prove attractive for Bitcoin and Ethereum spot purchases," the exchange added.
