Wednesday’s highly anticipated Federal Open Market Committee (FOMC) meeting could set the stage for a bullish run in the cryptocurrency market if one important indicator aligns, according to a crypto analyst.
Crypto-linked stocks including Coinbase Global Inc (NASDAQ:COIN) and MicroStrategy Inc (NASDAQ:MSTR) are trading higher Wednesday amid strength in Bitcoin (CRYPTO:
Wrapped Bitcoin's (CRYPTO: WBTC) price has increased 4.29% over the past 24 hours to $69,790.00, which is in the opposite direction of its trend over the past week, where it has experienced a 2.0% loss, moving from $70,892.89 to its current price.
Over the past 24 hours, Bitcoin Cash's (CRYPTO: BCH) price has risen 4.8% to $464.99. This is contrary to its negative trend over the past week where it has experienced a 4.0% loss, moving from $480.04 to its current price.
Polkadot's (CRYPTO: DOT) price has increased 6.8% over the past 24 hours to $6.7, which is in the opposite direction of its trend over the past week, where it has experienced a 7.0% loss, moving from $7.19 to its current price.
Over the past 24 hours, Pepe's (CRYPTO: PEPE) price has risen 13.21% to $0.000014. This is contrary to its negative trend over the past week where it has experienced a 5.0% loss, moving from $0.000014 to its current price.