The cryptocurrency market agenda is intense, and this week is set to be one of the most thrilling weeks in terms of macroeconomic developments. Throughout 2023, we have overlooked some Federal Reserve (Fed) meetings, while we have counted down the minutes for others. For example, the period of the banking crisis was critical, but the previous meeting was not given much importance as things became clearer. However, this week’s meeting is very critical.
November’s inflation data, the Fed’s interest rate decision, and the members’ three-year interest rate projections will finally be learned on Wednesday. The non-binding but indicative three-year interest rate expectations of the members are the most curious topic. Moreover, whether inflation has not fallen in November will determine the tone of Powell’s speech.
If Friday’s employment and wage increase data had not been bad, the markets would not be as tense today as they were at the previous meeting. Investors prefer to remain cautious about potential surprises in inflation, interest rate projections, and Powell’s tone.
In addition, we have seen the details of the U.S.’s extremely strict crypto KYC proposal. When we look from a broad perspective, we see that we are enveloped in a chaotic atmosphere for three days, which could even overshadow the optimism for ETFs.
After reaching a price of $0.000278, Terra Classic lost nearly 40% of its value and losses could deepen with BTC‘s volatility. This is exactly why we were talking about the anticipated rise in LUNC Coin’s price, if BTC allows it. Although LUNC does not serve much purpose amidst burns and speculations, it is seen as in demand like a meme coin and is on the rise.