Crypto Market Forecast 24 September 2024
Sep 24, 08:04 PM
The cryptocurrency market 24 September 2024 is experiencing a slight downturn as drizzle-like bearish trends affect Bitcoin, XRP, Dogecoin, and other major coins like Ether, Binance Coin, and Cardano over the next 24 hours. Over a one-week horizon, stormy conditions are expected for Bitcoin and Solana, suggesting a continued bearish trend. These projections are based on the latest trading signals.
The downturn follows a profit-taking period after a rally triggered by a recent interest rate cut. Analysts, however, remain optimistic about the fourth quarter, citing factors such as institutional investment, FTX’s payout plan, and new accounting standards that may support cryptocurrency prices.
Bitcoin's price fell by 0.9% to $63,154, while Ether dropped 1.1% to $2,627 over the last 24 hours. Inflows into cryptocurrency investment products were strong last week, with $321 million invested, including $284 million into Bitcoin and $29 million into Ether.
In regulatory news, the SEC is under scrutiny as its commissioners, including the anti-crypto Chair Gary Gensler, testify before Congress. Coinbase continues its legal battle against the SEC’s enforcement actions, while BlackRock has updated its agreement with Coinbase to ensure faster Bitcoin withdrawals.
Meanwhile, Telegram has updated its terms to cooperate with global regulators in criminal cases, affecting its reputation. Family offices, particularly in Asia, are showing increased interest in crypto investments, favoring direct investments over ETFs.
The downturn follows a profit-taking period after a rally triggered by a recent interest rate cut. Analysts, however, remain optimistic about the fourth quarter, citing factors such as institutional investment, FTX’s payout plan, and new accounting standards that may support cryptocurrency prices.
Bitcoin's price fell by 0.9% to $63,154, while Ether dropped 1.1% to $2,627 over the last 24 hours. Inflows into cryptocurrency investment products were strong last week, with $321 million invested, including $284 million into Bitcoin and $29 million into Ether.
In regulatory news, the SEC is under scrutiny as its commissioners, including the anti-crypto Chair Gary Gensler, testify before Congress. Coinbase continues its legal battle against the SEC’s enforcement actions, while BlackRock has updated its agreement with Coinbase to ensure faster Bitcoin withdrawals.
Meanwhile, Telegram has updated its terms to cooperate with global regulators in criminal cases, affecting its reputation. Family offices, particularly in Asia, are showing increased interest in crypto investments, favoring direct investments over ETFs.