Bitcoin Price and Ethereum Prediction: Will FOMC Meeting Minutes Impact BTC and ETH This Week?

cryptonews.com:

Bitcoin (BTC) and Ethereum (ETH), the two biggest cryptocurrencies in the world, continue to hold above the $24,000 and $1,600 marks, respectively. However, they experienced a slight decline this morning, with Bitcoin falling from $25,000 to $24,000. 

The crypto market continues to fluctuate, investors are keeping a close eye on the upcoming Federal Open Market Committee (FOMC) meeting minutes, which are set to be released this week. 

The recent downward trend in cryptocurrency prices may be linked to positive economic data coming out of the United States. This has strengthened the belief that the Federal Reserve will continue with its plan to tighten monetary policy for a longer period than previously expected. 

In addition, traders seem to be cautious about making large investments before the release of Coinbase's results and Hong Kong's new VASP licensing scheme, both of which are expected to have a significant impact on the market in the upcoming weeks.

 The release of the Federal Open Market Committee (FOMC) minutes on Wednesday could have an impact on the price of Bitcoin. As the FOMC sets the monetary policy in the United States, any hint of a shift in this policy could affect financial markets, including the cryptocurrency market.

In a recent speech at the Economic Club of Washington, Federal Reserve Chair Jerome Powell discussed the ongoing disinflation process and expressed confidence in the Fed's ability to lower inflation to their targeted rate of 2%. 

While Powell's response to the strong January jobs report did not indicate a change in the central bank's approach to future rate increases, he cautioned that sustained strong labor data could lead to a higher terminal level of the Fed funds.

At its February 2023