Tension Rises Among Investors Ahead of Fed FOMC Minutes Release
Coin Investment Sentiment Drops Before Next Week's 'Cryptocurrency Week'
BTC Hovers Around $108,000... Altcoins Rise Riding BTC Funds
Experts Say "BTC Has Potential for Rise Based on On-Chain Data"
The cryptocurrency market, including Bitcoin (BTC), maintained a wait-and-see attitude on the 9th ahead of the Federal Open Market Committee (FOMC) minutes release and the upcoming U.S. congressional vote next week.
On the 9th (local time), the Federal Reserve will release the FOMC meeting minutes. With key Fed officials raising the possibility of a July rate cut, the market is tense, focusing on the June FOMC meeting results.
The potential vote on three cryptocurrency regulatory bills in the U.S. Congress between the 14th and 18th of next week has also created market tension. The U.S. House of Representatives has designated the period from the 14th to 18th as 'Cryptocurrency Week', planning to process three major cryptocurrency-related bills: the 'CLARITY Act', 'GENIUS Act', and 'CBDC Oversight Act'.
The market is filled with a wait-and-see attitude on the 9th, with major cryptocurrencies including Bitcoin hovering, amid predictions that the market could be significantly impacted by the results of the U.S. congressional cryptocurrency regulatory bill vote.
Bitcoin has been hovering around $108,000 for several days. Altcoins have been rising.
The reason is attributed to the decline in Bitcoin dominance. Analysis suggests that funds previously concentrated on Bitcoin are now moving to altcoins, leading to rises centered on major altcoins.
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