According to Coindesk, major cryptocurrencies are trading higher as key events, including the Federal Reserve (Fed) and Bank of Japan (BOJ) rate decisions, and earnings reports from the Mag 7 stocks, are set for the week ahead. The Fed is expected to cut its policy rate by 25 basis points to 4% on Wednesday, with further rate cuts anticipated in 2025, supporting a bullish trend for Bitcoin and the broader crypto market. Bitcoin has risen 1.7% in the past 24 hours to $113,600, while XRP, ETH, and SOL have also seen gains. The Fed's balance sheet developments and Governor Ueda's policy statement from the BOJ could also impact market sentiment. Meanwhile, Mag 7 earnings will be closely watched for signs of AI-related tech spending trends. U.S.-China trade tensions have eased, with a potential Trump-Xi summit in South Korea raising expectations for a trade deal.
Fed Rate Decision, Mag 7 Earnings, and Trump-Xi Summit to Influence Crypto Markets
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