Be prepared for this week's Federal Reserve meeting. Here are four ways to trade the upcoming interest rate cut.
Author
Kathy Lien
BKTraders and Prop Traders Edge
Having graduated New York University’s Stern School of Business at the age of 18, Ms. Kathy Lien has more than 13 years of experience in the financial markets with a specific focus on currencies.
Ripple (XRP) is losing strength, trading below $1.40 on Tuesday. Although minor, the correction comes after a sharp move toward $1.50 the previous day and aligns with a lethargic outlook in the broader crypto market.
Top altcoins, including Ripple, Cardano, and Hyperliquid, are trading in the red on Tuesday, with roughly 2% losses so far. The altcoins are facing downside pressure ahead of the CLARITY Act cloture vote scheduled for Tuesday.
Cryptocurrency prices are under pressure on Tuesday, with Bitcoin retreating below $77,000. This pullback comes on the heels of last week's failed breakout and is echoed across major altcoins, as Ethereum and Ripple both slip below key psychological levels at $2,500 and $1.40, respectively.
Bitcoin faces mild pressure, trading below $77,000 at the time of writing on Tuesday following a recovery the previous day. Institutional demand shows early signs of return with spot Exchange Traded Funds recording an inflow on Monday, snapping a four-day outflow streak.
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