As traders processed the numerous political events that transpired over the weekend and anticipated this week’s central bank meetings, cryptocurrency values declined at the start of the last week of July.
The price of bitcoin dropped by more than 1% on Monday, closing at $66,930.28. It has previously risen to $69,982.00. At $3,272.75, ether continued to pare gains, remaining above the flat line.
After bitcoin concluded last week with a 1% gain and ether plunged 7%, investors are now returning to the market.
The Bank of England, the Bank of Japan, and the Federal Reserve, all of which are meeting this week, are also being watched by traders.
With the expectation that Fed Chair Jerome Powell’s remarks will validate a September interest rate reduction, all eyes are on him.
Source (CNBC)
