With the Fed's rate decision approaching, the crypto outlook is again under pressure as tech companies report earnings and semiconductor stocks remain under selling pressure. Bitcoin and Ethereum prices also posted declines.
The market summary reported that Bitcoin was down approximately 1.84% over the past week at $80,118, while Ethereum was down 3.06% at $2,339. Investors are reassessing the Fed's interest-rate outlook and broader market risks, leaving cryptocurrencies under continued pressure.
The Fed is scheduled to announce its interest-rate decision on 28 October, and future policy developments are expected to affect the crypto outlook. Reports indicated that investors should monitor earnings and sector trends while assessing the prospect of persistently high interest rates and market risk factors.
The crypto market is influenced by multiple factors, including monetary policy, tech company earnings and selling in semiconductor stocks, and there is speculation that short-term volatility may continue.