The cryptocurrency market is reeling in the days ahead of the Fed's inflation report

The situation within the cryptocurrency market is quite tense, the mood is on the floor this after the setback that has been developing the price action of most cryptocurrencies in the last two days.

Now, a common element to relate that may be linked to this setback in the price action is undoubtedly related to the inflation data to be released by the FED in the following hours.

The truth is that in the last two days maximum tension has been unleashed among bullish traders and cryptocurrency investors, a scenario that may change tomorrow in favor of the main cryptocurrencies that are currently in the red.

On the other hand, beyond the previous data to be released by the FED, another factor that has also had a negative impact on the price action of cryptocurrencies is the bankruptcy of financial giants on U.S. soil.

Additionally this setback in cryptocurrency price action comes in a context of uncertainty, just after the world's largest exchange platform Binance announced a temporary suspension of Bitcoin withdrawals, citing network congestion.

According to information disclosed in the "Cronista" portal, in this context, the market adopted a neutral sentiment according to the "Fear & Greed Index" data, a popular variable that measures the behavior of investors.

Cronista. Maximum stress for Bitcoin: tomorrow everything can change for cryptocurrencies. Link

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