Over the next 24 hours on 19 September 2024, bearish market conditions are expected for Bitcoin, Avalanche, and Litecoin, with a stronger bearish trend forecasted for Ether, Binance Coin, and Dogecoin. Meanwhile, Ripple’s XRP is projected to experience bullish trading conditions.
Looking at the week ahead, both Bitcoin and Dogecoin are expected to face more severe bearish trends, with Ether continuing to experience downward pressure.
The positive sentiment in the crypto market has been boosted by the US Federal Reserve's 50-basis-point rate cut, pushing Bitcoin above $62,000, with some predictions pointing to further rate cuts. This move has generally strengthened risk assets like cryptocurrencies, with Bitcoin being seen as a key portfolio diversifier, as highlighted by BlackRock.
Institutional interest in crypto continues to rise, particularly for platforms like Binance, while regulatory uncertainty in the US is pushing some blockchain developers and companies abroad. In addition, the TON ecosystem is receiving a $30 million investment to further support its growth, while the stablecoin market continues to evolve with new entrants such as TrueX and USDS.
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