Claim BonusCrypto Market Set For Another Bottom, Expert Reveals Why
The crypto market showed some strength in the last 24 hours. Bitcoin prices went up by 2.57% in the last 24 hours and are currently trading at $20,161. Ethereum also surged by 1.8% in the last 24 hours and crossed the $1,352 mark.
XRP broke its slide and surged by 5% in a day and is currently trading at $0.4793. Dogecoin (DOGE), which increased by 8% in a day, was another big winner in the crypto market.
However, experts believe that the crypto rally may not last for long. Michael van de Poppe, the CEO of Eight Global and crypto analyst, believes that the US dollar is set for a rally. As a result, the crypto market can see a slight correction.
US unemployment data will also be released on Friday. Michael Poppe believes that the data might be bad and have a bad effect on the market.
Why The Crypto Market Is Struggling
Despite today’s rally, the crypto market is still showing bearish sentiments. The Federal Reserve remains hawkish despite global recessionary fears. The United Nations has asked global economies to pivot from their aggressive stance. However, it remains unlikely that the American central bank will comply.
The Fed’s stance will become clearer as Atlanta Fed’s president Raphael Bostic will deliver a key speech on Wednesday. Chicago’s Charles Evans and Cleveland’s Loretta Mester will speak on Thursday.
Oil prices will create additional uncertainty in an already unfavorable macroeconomic environment. The Organization of Petroleum Exporting Countries is mulling over the biggest supply cut since 2020 to raise prices. The OPEC+ will meet on Wednesday to formalize the decision.
What Will The Fed Decide
The crypto market is still strongly correlated with the broader general market. Therefore, macroeconomic conditions will still dictate the price movement.
The CME Fed Watch tool still expects another 75 bps hike in the next Fed meeting.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- CLARITY Act Failure Could Stall the 2026 Crypto Bull Run, Warns Bitwise CIO
- BTC Price May Rally if Fed Prints Money to Stabilize Japan, Says Arthur Hayes
- Trump Says Interest Rates Will Come Down Once Fed Chair Is Replaced
- Why Monad Token Price is Up Today?
- Strategic Bitcoin Reserve: South Dakota Introduces Bill to Invest in BTC as U.S. States Explore Crypto
- Shiba Inu Price Outlook As SHIB Burn Rate Explodes 2800% in 24 Hours
- Pi Network Price Prediction as 134M Token Unlock in Jan 2026 Could Mark a New All-Time Low
- Bitcoin Price Outlook as US Dollar Index Hits 4-Year Low, Gold Soars
- Stock Market Today: Nasdaq, Dow, S&P 500 Futures Rise Ahead of Fed Meeting, and Jobless Claims
- Bitcoin And XRP Price Prediction Ahead of FOMC Meeting Today, Jan 28
- XRP Price Prediction as Ripple Scores Big Partnership in Cash-Rich Saudi Arabia
