Crypto Market Enters Summer Slumber as Fed Signals Loom

The cryptocurrency market has entered a state of calmness and inactivity, with its market capitalization decreasing by 2% to $2.265 trillion since July 21.

Bitcoin's performance was particularly noteworthy, falling by 4.4% over the week to around $63,863 on July 28, according to CoinGecko.

Independent expert Semyon Nazaruk believes that this is a typical summer pattern for cryptocurrency markets, with lower volatility and resilience to external shocks.

The market is currently waiting for signals from the US Federal Reserve regarding potential interest rate hikes in the fall, which could have a negative impact on risky assets like cryptocurrencies.