Fed Minutes and Geopolitics Set to Dominate Crypto Market This Week
The upcoming week in crypto and financial markets will be influenced by several key events. The Federal Reserve's struggle to manage a soft landing, where inflation falls without triggering a recession or a sharp rise in unemployment, will be closely watched.
On Wednesday, the Fed will release its FOMC minutes from the July 28-29 meeting, offering insight into whether the central bank is considering additional interest-rate increases. Adam Posen, president of the Peterson Institute for International Economics, believes there's only a 25% chance of a rate hike in September and expects the first move to come in December.
Geopolitical developments will also impact markets, with volatile expectations affecting oil prices. Higher interest rates make risky assets like cryptocurrencies less attractive.