1 August 2026
Crypto Market Turns Green Following FED Announcement
Yesterday, the Federal Open Market Committee (FOMC) meeting took place where the Fed announce rate hikes and a reduction of its bond purchasing policy in 2022. After the announcement, Inflation hedges such as Silver and Gold responded optimistically.
The meeting highlighted that there will not be any changes by authorities in the interest rates, along with a doubling of the bond tapering rate. The Crypto market also reacted positively, and the market started to recover while Gold and Silver witnessed the biggest trading volume day.
The VanEck Junior Gold Miners ETF (GDXJ), which tracks the MVIS Global Junior Gold Miners Index, recorded the largest volume in years as 18M shares traded.
While Gold and Silver saw a massive bounce post-fed announcement, the Cryptocurrency market could also experience a similar price action. Currently, the Crypto market has turned green, and the overall Crypto market cap reached $2.26 Trillion, with a 2.93% increase in the last day.
The leading Cryptocurrency Bitcoin crossed the barrier of $48k and is now moving towards $49k. Ethereum also managed to surge above $4,000. As a result, the other Cryptocurrencies also started to turn greener.
A few days back, Bitcoin fell below $46k. The bear market was led by the shorting mentality regarding the FED meeting. Many expected that the meeting would announce the faster tapering of bond purchases which would trigger an upswing in Gold and Bitcoin.
After Gold recorded the biggest trading day, Crypto enthusiasts are waiting whether Bitcoin will be the next?
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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