The renowned cryptocurrency analyst, il Capo of Crypto, recently shed light on current market developments, as the Bitcoin (BTC) price has reached unprecedented heights, with the price surpassing the magical boundary of $107,000.
In a recent post, il Capo shared his expectations about the Bitcoin rally. He expects the upward trend of Bitcoin to weaken. According to him, we are witnessing the last gasps of this rally, but he also pointed out that there are still interesting movements to be seen in certain altcoins. In particular, altcoins that focus on artificial intelligence caught his attention.
Il Capo indicated that the current uptrends in altcoins may be the last ‘pumps’ before a correction comes. He emphasized that we can probably expect further increases until the FOMC meeting on Wednesday.
The Federal Open Market Committee (FOMC) meeting is imminent and is expected to bring a 25 basis point rate cut. Although this decision seems to have already been priced in, the speech by FED Chairman Jerome Powell after the announcement is the agenda item everyone is waiting for. Powell’s view on economic prospects and monetary policy could give direction to the market.
After a period of relative silence on X (formerly Twitter), il Capo has announced that he is making his return to the platform. Fans and followers can look forward to detailed posts and analyses from this leading analyst.
These developments underline the dynamics and volatility that characterize the crypto market, especially in the run-up to major economic announcements. It’s an exciting time for investors, both in Bitcoin and in the broader altcoin market, as they navigate these turbulent but potentially lucrative waters.
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