Here’s why crypto market will remain in wait-and-see mode until February

The cryptography market is likely to stay in a detention scheme, traders await key developments at the end of January, suggest capital QCP analysts.

The market has derived lower, despite the Securities and Exchange American Commission announcement of a crypto regulatory working group, with pressure on Bitcoin (BTC) Continuing to assemble, analysts of QCP Capital Note.

In a research note On January 23, analysts suggested that the cryptography market could remain in a model of detention for a certain time, because no major market event expected “before the meeting of the FOMC of next week”.

“Without major catalysts before the FOMC meeting next week, the market is likely to remain linked to the beach until there is more clarity on the way in which the recent reading of the IPC influenced the FED political decisions of the Fed. “

QCP capital

For the moment, crypto traders seem to be in waiting mode, with more clarity likely to come in February. Like crypto.News reported Earlier, the funds negotiated in exchange for Bitcoin Spot in the United States had to face a slowdown on January 22, while the BTC is about $ 102,000.

According to Sosovalue data, entries into the Bitcoin ETF dropped by 69% compared to the day before, reaching 248.65 million dollars on Wednesday. The entire entries recorded by day came from the Ibit of Blackrock which attracted $ 344.28 million in investors.

Kadan Stadelmann, CTO of the Komodo platform, previously said Crypto.News that the first days of Trump could become a “selling the news” event. He noted that initial optimism on cryptographic markets after the Donald Trump elections could fade because the planned policy changes were probably already at a price before taking office.