The cryptocurrency market experienced a decline on Sunday evening, as on-chain data reveals a considerable amount of profit-taking behind the stagnant prices.
The fate of EUR/USD was determined by two events last week: the FOMC (Federal Open Market Committee) meeting of the US Federal Reserve and the meeting of the Governing Council of the European Central Bank (ECB), which took place a day later. As a result, the euro emerged victorious: for the first time since November 29, the pair rose above 1.1000.
The cryptocurrency market experienced mixed trading on Wednesday evening, largely influenced by the Federal Reserve’s (Fed) announcement of potential interest rate cuts in the upcoming year.