Crypto Market Digests Rate Hike as Deribit Expiry Looms
The week ahead in crypto is marked by a digestion phase rather than a decision-making period. The Federal Reserve's recent rate hike has already been priced into markets, and key events such as the US Senate's cloture failure on the Digital Asset Market Clarity Act have passed.
The main event of the week will be the Deribit quarterly expiry on Friday, September 25, with $14.73 billion in open interest. This could lead to volatility in the markets, particularly if retail traders' savings and retirement portfolios are affected.
Additionally, Solana's Alpenglow feature is set to be activated, which may impact the network's scalability and performance. The Plasma XPL cliff on September 25 will also release a large number of tokens, potentially disrupting markets.