Which cryptocurrencies are most affected by FOMC trade decisions?

1 answers

• Mani 1383Oct 24, 2024 · a year ago
  At BYDFi, we've observed that Bitcoin and Ethereum tend to be the most affected cryptocurrencies when it comes to FOMC trade decisions. This is primarily due to their dominant position in the market and their high liquidity. When the FOMC announces changes in monetary policy, it can create uncertainty and volatility in the overall market, which often leads to significant price movements in Bitcoin and Ethereum. However, it's important to note that other cryptocurrencies, such as Ripple, Litecoin, and Bitcoin Cash, can also experience notable price fluctuations in response to FOMC trade decisions. Therefore, it's crucial for traders and investors to stay informed about the FOMC's decisions and their potential impact on the cryptocurrency market.
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