ETH Volatility Surges 11%, Market Enters 'Harvesting Mode' Ahead of FOMC Meeting
The cryptocurrency market has been experiencing high volatility in recent days, particularly for Ethereum (ETH), which saw its price fluctuate by over 11% within a single day. The rapid price swings have led to the liquidation of both long and short positions, causing traders to face trend acceleration and sudden reversals.
According to market analysts, this volatility is not unexpected given the impact of recent data releases, which has put pressure on the market. The upcoming FOMC meeting next week will likely shift the focus away from the current price action, but for now, high volatility and disagreements remain the main theme.
The BITMEX BTC Opinion suggests that traders should be cautious and avoid chasing positions, instead focusing on controlling position size and using strict stop-losses. The analysts also note that the RSI is currently in a neutral-to-strong region, indicating that bulls have not completely lost initiative.