Let’s explore what’s happening in the crypto market on Oct. 29. Stay tuned for our live updates!
The primary reason behind the crypto market slump is the Federal Reserve meeting scheduled for today, Oct. 29. Traders remain cautious ahead of the FOMC announcement amid the uncertainty over the Fed’s interest rate decision.
Despite short-term volatility, many market participants remain optimistic about a return to bullish trends. Speculation over potential rate cuts and the possible launch of Quantitative Easing (QE) could inject fresh momentum into cryptocurrency prices.
Bitcoin price is currently at $113K, which means that BTC is down 1.27% over the past 24 hours. Nevertheless, it is still up 4.55% for the week and 0.76% over the past month.
The price has fluctuated between $107,088 and $115,957 in the last seven days, which shows relative stability after the sharp Oct. 10–11 sell-off.
