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Ethereum's price is influenced by the People's Bank of China's economic stimulus and potential easing of monetary policy, which may drive investors towards crypto assets. Attention is also on Fed Chairman Jerome Powell's upcoming speech and US price data, with the presidential election campaign adding further market dynamics. Polls show Kamala Harris slightly ahead of Donald Trump, who is viewed as more crypto-friendly.
Bitcoin remains above $62,000, buoyed by a recent interest rate cut in the US, although investor euphoria is starting to fade. The upcoming US presidential election, featuring Kamala Harris and Donald Trump, may influence crypto regulations, while key Federal Reserve speeches next week could provide insights into future monetary policy.
Ethereum's price has surged ahead of the Federal Reserve's upcoming meeting, where a decision on interest rates is anticipated. Investors are speculating on a potential rate hike of 25 or 50 basis points, with a 63% probability of a 50 basis point cut. Additionally, the US election campaign is expected to influence market dynamics, particularly following a recent debate between Kamala Harris and Donald Trump, with hopes for a crypto-friendly administration.
Kamala Harris
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Ethereum price influenced by Chinese central bank and US economic data
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09:00 24.09.2024
Bitcoin remains above 62000 as investors eye US monetary policy shifts
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