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Price analysis 7/29: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
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The 25 basis point rate hike by the Federal Reserve on July 26 and the subsequent commentary by Fed Chair Jerome Powell failed to catapult (BTC) out of its range. This suggests that the event did not have any surprises and the outcome was already priced in by the markets.
The crypto markets continued their lackluster performance on July 28 after the United States Personal Consumption Expenditures (PCE) Index print came in lower than analysts’ expectations. The PCE is the Fed’s preferred inflation metric; hence, it is watched closely by market observers.
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