Volatility Looms as Market Awaits FOMC Meeting and Ongoing Global Tensions
The market is bracing for high volatility as it enters a stage of heightened sensitivity and event-driven trading ahead of key macroeconomic events. The Federal Open Market Committee (FOMC) meeting on September 16, along with ongoing tensions in the Middle East and rising oil prices, are contributing to concerns about sticky inflation.
The price of Bitcoin (BTC) has been holding steady around $76,400, waiting for a breakout or clear support signals. Bulls have some ability to fight back, but a true trend reversal is yet to be achieved. Market sentiment has cooled down from its overheated state, with the Fear & Greed Index returning to a neutral zone.
ETH has shown relative independence, driven by a rising exchange rate against BTC. However, this also amplifies potential losses if the ratio retreats quickly. Technical indicators suggest ETH remains in an intact medium-term bullish structure, but caution is advised given upcoming events that could trigger short squeezes or panic selling.