Cryptocurrency Market Still “Shaky”, Expect Huge Volatility This Week!

On Monday morning, the global cryptocurrency market cap was trading marginally high at $1.06 trillion, almost unchanged in the last 24 hours. The total trading volume also increased to $72.92 billion.

Toward the end of the previous week, Bitcoin and the broader cryptocurrency market entered a strong rally, which took the total crypto market above $1 trillion all over again. 

Additionally, the crypto market has been gearing up for the incoming increase in volatility ahead of the U.S. CPI inflation data that shall be released later this week. Because of this, the BTC price is up by 2%in the last 24 hours and is trading at $21,837 levels at the time of writing. Meanwhile, ETH is down by 1.13% and is trading at $1,735 levels.

However, market participants must brace themselves for rocky roads ahead. If higher-than-expected inflation reading is seen on September 13, i.e., Tuesday, it would cast shadows on the crypto market rally.

Additionally, it could directly impact the Fed’s interest-rate decision ahead of this month. For this month, most market experts believe that the Fed could go for a 75 basis points rate hike. A higher inflation reading could force the Fed to turn hawkish with a higher rate hike. 

However, other analysts differ. They expect the Fed rate hikes to slow down in the coming months, which would be great news for bitcoin org