Interest rate hikes are anticipated to slow as central banks continue to war against the inflationary threat. In response, the crypto market could remain volatile with other risky assets.
Reports underlined that the U.S. will release its November inflation figures this week to decide the course of the Federal Reserve’s policy decision for the rest of 2023.
‘Super Central Bank Week’ Puts Pressure on the Crypto Market
The U.S. Federal Open Market Committee (FOMC) announced its decision to hike interest rates on December 14 with a 75% probability of doing so by 50 basis points. This comes after six significant hikes this year. At the same time, the central banks of Europe and Great Britain will also publish their interest rate decisions in the week. Therefore, “Super Central Bank Week” will begin around the world this week.
Today, the global cryptocurrency market cap slid back to $877 billion in a fall of around 2% in…
