Market Sentiment Shifts as Investors Anticipate Powell’s Remarks on Crypto Trends – BitRss

Cryptocurrencies are eagerly awaiting Powell’s statements, with the likelihood of interest rates remaining steady. This year, there was a stronger expectation for significant rate cuts compared to last year. However, the potential reversal of declining inflation has led markets to price in two rate cuts. What are the expectations for Shiba Coin, AVAX ($32.57), ADA ($0.92), and XRP ($3.04) Coin?

Insights on Shiba and AVAX Coins

Today, Powell is expected to make relatively positive statements to avoid exacerbating the overall market downturn. Developments in artificial intelligence have significantly impacted U.S.-based tech companies. Naturally, this has led to new lows for altcoins, especially under the leadership of BTC ($102,396.24).

The rise that started in September saw a 157% increase over 81 days, peaking at $0.0000333 on December 8. However, a 51-day decline followed, erasing 46% of SHIB ($0.00)’s value. Despite attempts at recovery, losing the $0.0000209 support now opens the possibility of testing the new $0.0000166 support level.