Crypto wrap: Market in green but Fed announcement to keep volatility high

US Fed will hold its meeting on January 31 and February 1 and announce the policy on February 2

The cryptocurrency market continued its uptrend last week but the upcoming policy announcement by US Federal Reserve (Fed) is expected to keep the market volatile, experts told Business Standard. 

"This week, the release of Personal Consumption Expenditures (PCE) price data and the upcoming Federal Funds rate hike on February 2 is expected to lead to increased market volatility," said Anurag Dixit, founder of crypto asset management platform Kunji said. 

"Additionally, several moderately significant data releases are also scheduled before the rate hike," he said. 

On January 21, the total crypto market capitalisation rose above $1 trillion for the first time